Conclusion

In conclusion, the analysis of the asset transfers on the Algorand from and to different centralized exchanges during November has shown that there was a massive amount of activity during the FTX collapse, between November 8th and 11th. While the overall inflow volume was higher than the outflow volume, resulting in a positive netflow during the measured period, the number of outflow transactions and users who received tokens was higher. Circle and Centre as the issuers of USDC have had the highest transferred volume both into and from them with a market share of around 85%. Besides these two, KuCoin and Houbi were the most active CEXs throughout November. Asset-wide, USDC has had the highest volume of both inflow and outflow, thanks to the activity on Circle and Centre. From the perspective of transactions and users, ALGO and USDT were the two dominant tokens on the network moving to and from CEXs. These three tokens have had nearly 100% of the total market share. Last but not least, the analysis of top asset movers into and from centralized exchanges has indicated that during November, assets mainly transferred between different CEXs, and neither of the top senders nor receivers have not been unknown wallet addresses.

Methodology

For the analysis of asset transfers into and from centralized exchanges, the data on the ez_transfer table of the Core schema of the Algorand database were used. This table was joined with the dim_label table to label the sender and receiver of each transfer transaction. At the same time, the price of each asset was extracted by combining the data on both the ez_price_pool_balances and ez_price_swap tables. Ultimately, only transfers with a CEX label type were filtered and the transferred amount was multiplied by the proper decimals and the price of the asset to obtain the USD amount.

Centralized exchanges (CEXs) are a type of cryptocurrency exchange that is operated by a single company in contrast to decentralized exchanges which are peer-to-peer exchanges allowing users to trade cryptocurrency without the need for an intermediary. Since the collapse of FTX, the term “Not Your Keys, Not Your Wallet” has once again surfaced in the crypto community to remind users not to hold their tokens in a centralized exchange wallet. In this dashboard, the inflows and outflows of Algorand assets into and from centralized exchanges have been analyzed to monitor how the users have reacted to the recent news.

Overview

Overview of Centralized Exchanges

Inflows To Centralized Exchanges

Inflows of Assets

Outflows of Assets

Overview of Assets

Outflows From Centralized Exchanges

Top Asset Movers