{"uuid":"a1c6fc63-deef-4838-719a-14fe96d19603","categoryUuid":"d36546c5-cec2-431a-7b64-3f89f2211e65","data":{"meta":{"name":"BTC: Exchanges and Cohorts"},"configs":[{"meta":{"content":"## Cohorts and Exchanges\n\n---\n\nThis dashboard provides analysis tools which take advantage of both Glassnodes comprehensive exchange wallet labels, entity-adjusted clustering, as well as profit/loss, and cohort based heuristics. Given exchanges represent a central point of market trade, the signals generated tend to provide a representative sample of market capital flows, and aggregate sentiment.\n\nThis dashboard contains tools to assess:\n\n- **Magnitude, and relative scale of exchange inflows**\n- **Profit / Loss bias of exchange inflows**\n- **Macro and micro sentiment shifts**\n\n---\n\n## Exchange Inflow Breakdown by Cohort\n\nThis chart presents the breakdown of exchange inflows into three core components:\n\n- 🟠 Total Exchange Inflow Volume [BTC]\n- 🔴 Short-Term Holder Inflow Volume [BTC]\n- 🔵 Long-Term Holder Inflow Volume [BTC]\n- 🟢 Inter-Exchange Transfer Volume [BTC]"},"uuid":"12f1c826-0fba-45f6-8030-ad7a84e50aa1","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"43c32a9c-bde0-4f70-770c-723883a98eae"},"uuid":"8b4546bb-314f-4d82-86b2-3254ab76a827","extra":{"zoom":"5y"},"configType":"workbench"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"indicators.RealizedProfitToExchangesAccountBased","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"6f84d04d-8f1b-407f-9d9a-01cdf4202f08","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"indicators.RealizedLossToExchangesAccountBased","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"b11024f8-ce68-4e66-9d43-c925e1fbae4d","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"### Net Transfer Volume from / to Exchanges Breakdown by Size\n\n---------------------------------------------------------------\n\nThis metric displays the breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions. This allows for the inspection of Exchange flows segragated by its constituents.\n\n**Cohorts include:**\n\n- 🔵 Less than $10k\n\n- 🟢 $10k - $100k\n\n- 🟡 $100k-$1M\n\n- 🟠 $1M - $10M\n\n- 🔴 $10M+"},"uuid":"531e59a0-e7bc-4906-875e-2034e5e42af7","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"asset":"BTC","mathFn":{"name":"ema","value":"30"},"currency":"native","metricCode":"transactions.TransfersVolumeExchangesNetBySize","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"30"},"uuid":"dafb24aa-59c4-41aa-97f9-49bf3ddf7169","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"fees.ExchangesSum","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"739b37ae-5120-4b44-b193-5a4ea6b00342","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"fees.ExchangesMean","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"cffcd938-a12f-4f2f-9b46-63f2e8b7d3e1","extra":{"price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"fees.ExchangesRelative","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"92c0c99a-c861-4690-97e5-82f1174f4320","extra":{"price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"# Long-Term Holders and Exchanges\n\n---"},"uuid":"fcdba560-ec42-457b-9d67-8f4692aee720","extra":{"backgroundColor":"#EEF5FF"},"configType":"content"},{"meta":{"content":"## Long-Term Holder Exchange Inflows [BTC]\n\n---\n\nThis metric represents the BTC denominated exchange inflow volumes for Long-Term Holders, broken down into volume in profit and loss. \n\n- 🟢 LTH Volume to Exchanges in Profit\n- 🔴 LTH Volume to Exchanges in Loss\n- 🟠 Cumulative LTH Net Exchange Bias\n\nFrom this, we can calculate the Long-Term Holder Cumulative Exchange Bias. This metric is the cumulative sum of LTH Coins in  profit minus in Loss sent to exchanges. Uptrends indicate that LTHs have a net bias towards sending profitable BTC volume into exchanges, and vice-versa for downtrends."},"uuid":"7609aaf2-76d2-407a-ab45-144daf9919a4","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersVolumeLthToExchangesProfitSum","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"5298f6a4-9c40-4592-903d-7b85ce27880c","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersVolumeLthToExchangesLossSum","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"822507c7-8f7b-4ea5-a125-0e0daf3c6274","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"### Long-Term Holder Net Realized Profit / Loss to Exchanges\n\n---\n\nThe Long-Term Holder Net Realized Profit / Loss to Exchange metrics measures the net positional change of LTHs sending coins into Exchanges on any given day. It is calculated as the difference between Realized Profit and Realized Loss on coins sent to Exchanges from Long-Term Holder addresses.\n\n- 🟢 LTH Realized Profits to Exchanges are larger than LTH Realized Losses denoting aggregate profit taking.\n\n- 🔴 LTH Realized Losses to Exchanges are larger than LTH Realized Profits denoting aggregate losses taken."},"uuid":"d0dcbeac-8e0a-4986-9473-e34cb6fe40ce","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"0a87c21d-9b78-465b-41f0-5d70e069827d"},"uuid":"603e08ca-1e39-4e33-95e3-4f7cdd2ff068","extra":{"zoom":"5y"},"configType":"workbench"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"indicators.RealizedProfitLthToExchangesAccountBased","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"e21d5de5-1454-4b17-9ae4-1421b63a24eb","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"indicators.RealizedLossLthToExchangesAccountBased","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"31408532-3063-420d-bac8-808a8d746072","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"refUuid":"47b6c58b-c95c-498a-651e-a2a7f28a0448"},"uuid":"8cf02d4d-9cf1-463a-9946-0f771652b77a","configType":"workbench"},{"meta":{"content":"## Percent LTH Balance Sent to Exchange\n\n---\n\nThis metrics tracks the cumulative and daily inflow of coins from Long-Term Holder addresses to Exchanges. We can also display the volume of daily exchange inflows by LTH as a proportion of their aggregate balance.\n\n- 🔵 The percentage of aggregate LTH Supply sent into exchanges each day. \n\n- 🔴 Periods where more than 0.025% of LTH Supply are sent into exchanges on a single day. Such events generally occur around major market volatility, such as capitulation events, euphoric rallies, and market regime shifts points.\n\n"},"uuid":"b34b3dd7-ce5e-4bf8-bb19-539fd1ea564b","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"566fbb5b-eeae-425f-6a2c-8649ba6fd125"},"uuid":"cca1edf5-cef5-45ea-bfd4-e475a8d256fa","extra":{"zoom":"All"},"configType":"workbench"},{"meta":{"content":"### Short-Term Holders and Exchanges\n\n---"},"uuid":"55f0ddc0-eaa5-44ca-bca8-50e34bf6732c","extra":{"backgroundColor":"#FFF5E0"},"configType":"content"},{"meta":{"content":"## Short-Term Holder Exchange Inflows [BTC]\n\n---\n\nThis metric represents the BTC denominated exchange inflow volumes for Short-Term Holders, broken down into volume in profit and loss. \n\n- 🟢 STH Volume to Exchanges in Profit\n- 🔴 STH Volume to Exchanges in Loss\n- 🟠 Cumulative STH Net Exchange Bias\n\nFrom this, we can calculate the Short-Term Holder Cumulative Exchange Bias. This metric is the cumulative sum of STH Coins in  profit minus in Loss sent to exchanges. Uptrends indicate that STHs have a net bias towards sending profitable BTC volume into exchanges, and vice-versa for downtrends."},"uuid":"db4a4505-bf71-4673-930b-810f1ab9f538","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersVolumeSthToExchangesProfitSum","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"89c237fd-37f5-4039-8d55-5778e8f95a8f","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersVolumeSthToExchangesLossSum","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"65b8477e-fc53-433b-9888-dbea8011d781","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"### Short-Term Holder Net Realized Profit / Loss to Exchanges\n\n---\n\nThe Short-Term Holder Net Realized Profit / Loss to Exchange metrics measures the net positional change of STHs sending coins into Exchanges on any given day. It is calculated as the difference between Realized Profit and Realized Loss on coins sent to Exchanges from Short-Term Holder addresses.\n\n- 🟢 STH Realized Profits to Exchanges are larger than STH Realized Losses denoting aggregate profit taking.\n\n- 🔴 STH Realized Losses to Exchanges are larger than STH Realized Profits denoting aggregate losses taken."},"uuid":"2a3a3065-0cb3-4bae-af5d-bd118e98534f","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"80da77fe-e8b6-48f5-5795-7cec32f324ae"},"uuid":"56c2df54-82c7-4eb7-b8b3-fbad066811c5","extra":{"zoom":"5y"},"configType":"workbench"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"indicators.RealizedProfitSthToExchangesAccountBased","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"f2907114-1e50-452c-9ca8-d34105c8ca33","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313539200000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"indicators.RealizedLossSthToExchangesAccountBased","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"feb3bd24-5ea5-4ec4-80b6-48b4b701dca3","extra":{"zoom":"5y","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"refUuid":"3b349c03-48d7-47fc-74ce-e1a1caef9703"},"uuid":"56405b93-aa6e-408f-ade2-17ea867d10f9","extra":{"zoom":"5y"},"configType":"workbench"},{"meta":{"content":"## Percent STH Balance Sent to Exchange\n\n---\n\nThis metrics tracks the cumulative and daily inflow of coins from Short-Term Holder addresses to Exchanges. We can also display the volume of daily exchange inflows by STH as a proportion of their aggregate balance.\n\n- 🔵 The percentage of aggregate STH Supply sent into exchanges each day. \n\n- 🔴 Periods where more than 1.0% of STH Supply are sent into exchanges on a single day. Such events generally occur around major market volatility, such as capitulation events, euphoric rallies, and market regime shifts points.\n\n"},"uuid":"df81c8a2-ffcf-48d8-974c-c9e5d4bb2f3c","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"content":"# Whales and Miners to Exchanges\n\n---"},"uuid":"e70ffe32-7b14-46ce-a938-198ce054697e","extra":{"backgroundColor":"#FEFBE5"},"configType":"content"},{"meta":{"content":"### Whales and Exchanges\n\n----------------------------------------------------------------\n\nThis chart presents the BTC denominated inflow and outflow volumes to exchanges associated with Whale entities (with a 1k+ BTC aggregate on-chain balance).\n\nThis chart has the following traces:\n\n- 🟢 Whale Inflow Volume [BTC]\n- 🔴 Whale Outflow Volume [BTC]\n- ⚫ Whale Netflow Volume 7D-EMA [BTC]\n\n---------------------------------------------------------------\n\n### Average Whale Withdrawal Prices\n\n--------------------------------------------------------------\n\nAlso shown are the rolling average withdrawal prices for this cohort across a series of starting dates aligned with significant market lows and events.\n\n- 🟡 5-Jul-2017+ (launch date of Binance)\n- 🔴 16-Dec-2018+ (Dec 2018 low)\n- 🔵 12-Mar-2020+ (March 2020 low)"},"uuid":"869666e7-6fe4-4344-b4ca-5cb8405a1642","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"15242d38-27e9-48df-4878-3a4e38145a24"},"uuid":"8f6e4880-e705-4fc5-8966-94ade9038afb","configType":"workbench"},{"meta":{"content":"## Percent Miner Revenue sent to Exchanges\n\n---\n\nThe Percent of Miner Revenue sent to Exchange metric takes the ratio between coins sent to Exchanges from Miner addresses, and the aggregate revenue generated by miners that day. This allows for insight into the proportion of production side distribution pressure.\n\nThe chart presents the following traces:\n\n- 🔵 Percent Miner Revenue to Exchanges (7D-EMA)\n- 🟠 Percent Miner Revenue to Exchanges (365D-EMA)\n- 🔘 Cumulative Miner Revenue to Exchanges [BTC]\n\nWhen the 7-DMA is above the 365D-EMA, it indicates that miners are distributing a larger proportion of their revenues relative to the longer-term baseline (and vice-versa)."},"uuid":"4e8d6116-6623-41ea-9f5a-1ccbdd7cc8c6","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"date":1680480000000,"asset":"BTC","since":1313625600000,"until":1680480000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersVolumeMinersToExchangesAll","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"b328d8b2-2d9c-47ea-be3a-0e43025ae95d","extra":{"zoom":"All","price":true,"scale":"lin","lineColor":"#f7931a","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"## Long-Term Holder Volume to Exchanges Bias\n\n---\n\nThis metric presents the ratio between Volume in profit, and Volume in Loss sent to exchanges by the Long-Term Holder cohort. It provides a view on the positional bias for exchange inflows by this cohort.\n\n- 🟢 LTHs are sending greater volumes of coins in profit to exchanges, relative to coins in loss.\n\n- 🔴 LTHs are sending greater volumes of coins in loss to exchanges, relative to coins in profit."},"uuid":"da93f9ab-3428-499c-bce6-d79937da29d4","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"content":"## Short-Term Holder Volume to Exchanges Bias\n\n---\n\nThis metric presents the ratio between Volume in profit, and Volume in Loss sent to exchanges by the Short-Term Holder cohort. It provides a view on the positional bias for exchange inflows by this cohort.\n\n- 🟢 STHs are sending greater volumes of coins in profit to exchanges, relative to coins in loss.\n\n- 🔴 STHs are sending greater volumes of coins in loss to exchanges, relative to coins in profit."},"uuid":"e9d7b1dc-582f-4efa-8939-c656c2d61e60","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"date":1684800000000,"asset":"BTC","since":1313712000000,"until":1684800000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersVolumeWhalesToExchangesSum","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"2c9d5ccd-6b05-4bdb-b714-2a6ed679c7ef","extra":{"price":true,"scale":"lin","lineColor":"#43e97e","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1684800000000,"asset":"BTC","since":1313971200000,"until":1684800000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersVolumeExchangesToWhalesSum","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"bd7b3867-122c-4c6b-b463-8223a46fb341","extra":{"price":true,"scale":"lin","lineColor":"#ff4157","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1684800000000,"asset":"BTC","since":1313712000000,"until":1684800000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersWhalesToExchangesCount","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"f29a8631-bef3-4d31-9e25-82e6e7187219","extra":{"price":true,"scale":"lin","lineColor":"#ae43ff","chartStyle":"line"},"configType":"metric"},{"meta":{"date":1684800000000,"asset":"BTC","since":1313971200000,"until":1684800000000,"mathFn":{"name":"ema","value":"7"},"currency":"native","metricCode":"transactions.TransfersExchangesToWhalesCount","resolution":"24h","movingMedian":0,"movingAverage":0,"expMovingAverage":"7"},"uuid":"bb8c2da7-49f1-4b34-ac1d-2974df1d2767","extra":{"price":true,"scale":"lin","lineColor":"#1b72f7","chartStyle":"line"},"configType":"metric"},{"meta":{"refUuid":"cc2701e8-b9f4-4508-4d71-af5a71c00683"},"uuid":"2fdcf0c0-8c12-4486-af71-85b637d5b35a","configType":"workbench"},{"meta":{"content":"## Net Realized Profit / Loss to Exchanges\n\n---\n\nThe Net Realized Profit / Loss to Exchange metrics measures the net realized value flowing into Exchanges on any given day. It considers the delta between the acquisition, and disposal value of coins transferred into exchange wallet clusters.\n\nThis is calculated by measuring the difference between Realized Profit and Realized Loss to Exchanges (Inflows only).\n\n- 🟢 Realized Profits to Exchanges are larger than Realized Losses denoting a net capital inflow and profit taking.\n\n- 🔴 Realized Losses to Exchanges are larger than Realized Profits denoting a net capital outflow and losses taken.\n\nThe Exchange Deposit Realized Cap can the be calculated from the cumulative sum of profits minus losses into Exchanges."},"uuid":"7326e2e6-04ec-44f1-9ec4-f0f1b6b85549","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"content":"# Realized Profit/Loss to Exchanges\n\n---"},"uuid":"30ab6373-30a7-4c41-a136-ddcb73af9c51","extra":{"backgroundColor":"#F0F0FF"},"configType":"content"},{"meta":{"refUuid":"25e79c02-77b9-4dc7-639e-974157583946"},"uuid":"3145313e-8c04-4640-8dd8-658cfc67adcd","configType":"workbench"},{"meta":{"content":"## Exchange Inflows in Profit/Loss\n\n---\n\nThis chart presents the breakdown of BTC volume flowing into exchanges by coins in profit, and in loss. Coins are determined to be in Profit/Loss based on the on-chain acquisition price, utilizing our entity-adjusted clustering to filter for internal transfers.\n\n- 🟠 Total Exchange Inflow Volume [BTC]\n- 🔴 Inflow Volume in Loss [BTC]\n- 🟢 Inflow Volume in Profit [BTC]\n\n---\n\n## Exchange Inflow Profit/Loss Bias\n\nThis chart presents the profit/loss ratio (bias) of exchange deposit volume. It is calculated as the ratio between inflow volume in profit, and inflow volume in loss. This indicator can provide an assessment of market sentiment, and periods of heightened exchange activity by investors.\n\n- 🔴 Inflow Volume in Loss Bias\n- 🟢 Inflow Volume in Profit Bias\n\n`Exchange Inflow P/L Ratio = Exchange Inflow Volume in profit / Exchange inflow Volume in Loss`\n"},"uuid":"d1dc72d8-6fab-48c1-b32e-929b2e9e2c8f","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"121d104b-5c8b-4ddb-51a8-f6a295547b58"},"uuid":"cd7cb9a2-83cc-4651-953f-bd370746defa","configType":"workbench"},{"meta":{"refUuid":"b4d1bb81-0be5-402f-5762-60125a29590f"},"uuid":"56e30a1c-37c3-487f-bcc8-6bbbfc56bcc0","extra":{"zoom":"All"},"configType":"workbench"},{"meta":{"content":"## Mean Realized Profit/Loss to Exchanges\n\n---\n\nThis chart presents the average USD denominated profit and loss realized by coins sent to exchanges. The ratio between Mean Profit and Mean Loss can also be calculated, providing a view into investor market cycles.\n\n- 🔴 Mean Realized Profit to Exchanges\n- 🟢 Mean Realized Loss to Exchanges\n- ⚫ Mean Profit/Loss Ratio\n\n`Mean Realized Profit to Exchanges = Realized Profit to Exchanges / Exchange Inflow Volume in Profit`\n"},"uuid":"658ad27f-f95c-4c9d-b9ad-945802fdb969","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"12096698-1df3-46d4-43e8-94b958c292f7"},"uuid":"a169ddf1-5ce5-40fb-a219-df6e3f484537","extra":{"zoom":"5y"},"configType":"workbench"},{"meta":{"refUuid":"f5e36e94-b29e-48b1-4f6a-1cb4d5f7e2f1"},"uuid":"1abbc104-ba54-4649-804a-a0a520b77509","extra":{"zoom":"5y"},"configType":"workbench"},{"meta":{"refUuid":"c2d52e1b-2e60-4bfb-4833-09f630c19e50"},"uuid":"6f3db5c5-d2c9-493c-9d9a-bacace14b385","configType":"workbench"},{"meta":{"refUuid":"0c4b977d-4bad-498a-497d-13b8493653ec"},"uuid":"b6bbb836-161f-4bc3-85cf-748fb47e934f","extra":{"zoom":"5y"},"configType":"workbench"},{"meta":{"content":"### Disclaimer\n\n---\n\n*This dashboard and associated content does not provide any investment advice. All data is provided for information purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions. For for details, please refer to our [Terms and Conditions](https://studio.glassnode.com/terms-and-conditions).*\n\n---\n\n## Transparency Notice regarding Exchange Metrics\n\n*Disclaimer: Exchange balances presented are derived from Glassnode’s comprehensive database of address labels, which are amassed through both officially published exchange information and proprietary clustering algorithms. While we strive to ensure the utmost accuracy in representing exchange balances, it is important to note that these figures might not always encapsulate the entirety of an exchange’s reserves, particularly when exchanges refrain from disclosing their official addresses. We urge users to exercise caution and discretion when utilizing these metrics. Glassnode shall not be held responsible for any discrepancies or potential inaccuracies.*\n\n**[Please read our Transparency Notice when using exchange 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