What is ALGORAND?

Algorand is a decentralized network built to solve the blockchain trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permissionless and open-source blockchain network upon which anyone can build.

What are Centralized exchanges (CEXs)?

Centralized exchanges (CEXs) are organizations that coordinate cryptocurrency trading on a large scale, using a similar business model to traditional asset exchanges like stock exchanges.

Exchanges are essentially marketplaces. They are useful when a large number of people may be simultaneously trying to buy and sell the same type of asset. In the traditional economy, famous exchanges include the New York Stock Exchange and the London Metal Exchange. In the crypto sector, some well-known CEXs include Binance, Coinbase, Gemini and Kraken.

Centralized crypto exchanges directly participate in markets by “clearing” trades. They typically keep digital order books, which are lists of open buy and sell orders, consisting of volumes and prices. They match up buyers and sellers and announce current market prices based on the last price an asset sells for.

CEXs generally offer supplementary services, such as crypto asset custody. They often require that users deposit their crypto assets at the exchange before trading can happen.

Exchanges are the most valuable businesses in the crypto world, according to a 2021 report by global accountancy KPMG.

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.

In this question, we are asked to obtain the daily volume of algo that enter the centralized exchange and the daily volume of algo that leave the centralized exchange.

The two above charts are not clear and analyzable for two reasons. First, the number of centralized exchanges in the labels table is large Second, we showed the daily volume. Let's look at the two above charts in the weekly time.

As you can see, we can now analyze the data. The first point that can be understood from the two above charts is that Binance Exchange has the largest volume of Algo inbound and outbound among other centralized exchanges.

Between November 15 and 22, 364 million algo had entered Binance and 285 million algo had exited. After Binance Exchange, CoinBase Exchange has the largest volume of algo entry and exit.

Let's look at the two charts above in monthly time.

According to the charts, the centralized exchanges based on the input and output volume of Algrand are as follows:

1. Binance
2. CoinBase
3. Okex
4. Keraken