Algo & CEXs

    This Bounty called "Most Popular Centralized Exchange For Algorand Wallets" Wants us to provide information about 3 criteria: - Chart the volume of ALGOs moved to each CEX by day since the beginning of 2021. - Chart the volume of ALGOs moved from each CEX by day over time since the beginning of 2021. - Are there any notable days of volume for any of the CEXs? What happened? To answer this Questions we marked all the addresses owned by Centralized Exchanges and since there were a lot of them named as "Groupx" i decided to put them aside. also their volume was mostly very low compared to well known CEXs. we only kept two p them.

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    As monthly chart shows, Binance as expected dominated this criteria and no other CEX can compete with it. but it is beneficial to take a closer look by examining Weekly chart. so let's break things down.

    As it is obvious in weekly chart, there are two notable spikes; one from week Sep 6th to 13th and one from week Nov 15th to 22nd. but what will they represent? what is the reason? comparing this chart with this exact dates we see that in roughly represent 2 latest ATH of ALGO. so what happened? simple: price went up notably and users start to send their Algos to CEXs to take profit and it resulted in a price decrease immediately.

    this is also true about daily chart. by being more specific we can see that on Dec 8th and 9th (same days that price was rising notably that led to ATH) Algos are coming to binance like never before. we used binance to be more precise since it is users' first choice to sell and buy Algo. but what about Algos leaving Binance? last chart shows that info.

    on the same previous date, although volume is still high, but these are mostly users who went fomo and bought it the top. but the most notable exit volume belongs to Dec 26th when Algo was around $. we can't surely say in was bought the same day but it definitely seemed a good buying point considering a 60 % decrease since ATH