Bull Market?

USD Denominated Transfer Volume between Ethereum Mainnet & Coinbase/Binance have grown since October 2021.

The 7-Day Moving Average smooths out weekends, and aligns to the broader ETF narrative.

With more institutional access and liquidity, these central exchanges serve as critical infrastructure to bridge on-chain and off-chain arbitrage.

• Table accounts for USD hourly closing price of all ETH mainnet token transfers to AND from Coinbase or Binance, including native ETH.