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Data: Binance 'Wholecoiner' Inflow Drops to Lowest Level Since 2018
Summary: According to on-chain data, the inflow of 'wholecoiner' (holding more than 1 BTC) transactions on Binance is rapidly decreasing. The annual average inflow is around 6,500 BTC, hitting a new low since 2018; the weekly average inflow is only about 5200 BTC, one of the lowest levels in this cycle. Despite the continuous rise in ...
According to on-chain data, the inflow of 'wholecoiner' (holding more than 1 BTC) transactions on Binance is rapidly decreasing. The annual average inflow is around 6,500 BTC, hitting a new low since 2018; the weekly average inflow is only about 5200 BTC, one of the lowest levels in this cycle. Despite the continuous rise in Bitcoin price, the trend of wholecoiner inflow is opposite to previous cycles: decreasing instead of increasing. This not only indicates a weakening selling pressure from investors holding a large amount of BTC, but also reflects a structural shift in the market: as Bitcoin valuation rises, the threshold of owning a complete 1 BTC increases, leading to a decrease in large transactions naturally; at the same time, the number of exchanges is increasing, DeFi ecosystem expansion provides more alternative channels, diverting funds that used to flow almost entirely to major exchanges like Binance.
