BitMEX Deposits (native units)

Definition

The sum in native units sent to BitMEX that interval.
Name
MetricID
Category
Subcategory
Type
Unit
Interval
BitMEX Deposits (native units)
FlowInBMXNtv
Exchange
Deposits
Sum
Native units
1 block, 1 day

Details

  • Native units are considered as sent to an exchange if they are sent to an address we identify as being owned by an exchange.

Chart

Asset-Specific Details

  • This metric might not be available for all assets. Either that exchange doesn’t support this asset (BitMEX only trades in BTC for example), or we deemed that our coverage of the exchange was not complete enough to release the metric for it.
  • For Bitcoin, this metric excludes the effect of change outputs:
    • If a transaction sends 90 BTC to exchange A but also withdraws 50 BTC from it, the flow is +40 BTC, not +90 BTC and -50 BTC.

Examples

The amount of deposits in USD on BitMex is directly correlated with the total amount of BTC spot volume across all exchanges. We see the deposits of native units drop during 2021-22 following the price decrease of BTC..

Release History

  • Released in the 4.0 release of NDP

Interpretation

This measures the flow of funds to the BitMex exchange measured in USD. Used to gauge activity on the exchange. Often times if an extreme amount of funds are being deposited to an exchange from cold storage, it could indicate users are selling to fiat or stable coins which could be be a bearish signal.

Availability for Assets