Binance is responsible for the highest inflow volume at 77.6%, with Huobi following at 17.2%, and Coinbase at 5.2%. In terms of outflows, Binance again leads at 81.8%, followed by Huobi at 16.1%, and Coinbase at 2.1%.

Based on these findings, it is clear that Binance is the dominant CEX on Avalanche, with strong control over both active users and volume. The decline in active users across all CEXes could be a result of market conditions or competition from other blockchain ecosystems.

However, it is important to note that the majority of users on Avalanche still rely on DEXes for funding their wallets.

The chart below shows the monthly active users by CEXes over time and we can see a slow decline from 250k to sub 100k in recent times. It is evident by the observation that Binance has contributed to Avalanche's active users among CEXes.

Coinbase slowly follows Coinbase in lead, with Huobi also tagging along.

In relation to token volumes, Binance controls about 78%, Huobi controls 16.5%, and Coinbase controls about 5%.

There are two main ways to fund a wallet on Avalanche, one can either use a decentralized exchange (DEX) bridge or a CEX. For Avalanche users, about 81.4% were funded by DEX while about 18.6% were funded by CEXes.

In total 783k users were funded using CEXes with 107k being active within the last 30 days. Binance has funded 661k users, Coinbase has funded 112k, and Huobi has funded about 20k.

The analysis will involve collecting data from the labels table to create a dashboard that illustrates the inflows and outflows of assets from Avalanche. We will look at the number of users and volume by CEX and track relevant metrics and KPIs such as daily active users, daily transaction volume, average transaction value, inflows vs outflows, and net flow. We will use tools such as SQL queries, data visualization tools, and statistical analysis to extract insights and trends from the data.

Avalanche is a decentralized blockchain platform designed for launching financial applications and assets. It operates as a smart contracts platform and enables developers to launch their own decentralized applications and custom blockchain networks. In this data analysis, we will be looking at the inflows and outflows of assets from Avalanche and analyzing various metrics related to user activity and volume on different centralized exchanges (CEXes) linked to the Avalanche ecosystem.

These are the total amount of funds in both AVAX and other tokens moving between CEXes and Avalanche.

We can see that generally, inflows and outflows follow a peak-trough pattern as flows gradually rise and also gradually fall over time.

The data shows that outflows are slightly larger than inflows in general leading to a total cumulative negative flow of about -600m USD. May 2022, and November 2022 were the months with the most negative inflows as shown above.

There has been over $45b worth of token volume and $13b worth of AVAX volume between the CEXes and the network. Token volume represents about 80% of the total volume.

The chart above shows that $AVAX CEX volume to-and-fro Avalanche has been in slow decline but it is quite evident that Binance is the biggest player, with Coinbase and Huobi coming in close behind.

Totaling $AVAX volume by CEX, Binance is responsible for 90.17%, Coinbase 7.42%, with the rest spread between Huobi, Coinsquare, and Bitfinex.