The supply of a token on exchanges is a parameter that is usually closely monitored. The top coins, Bitcoin, Ethereum are especially closely monitored when it comes to the supply on exchanges. What about HIVE?
What is the share of the HIVE supply held on exchanges? What is the trend is it going up or down? How has deposited/withdraw the most? Let’s take a look!
Here we will be looking at the following:
- Daily deposits to exchanges
- Daily withdrawals from exchanges
- Net deposits VS withdrawals
- HIVE balance on exchanges
- Top accounts that deposited to exchanges
- Top accounts that withdraw from exchanges
- Top exchanges balance
Exchanges taken in the analysis: Upbit, Binance, Bithumb, Bittrex, Hive Engine, Huobi, Gate.io, Probit, Ionomy, MEXC, and Indodax. There are few more exchanges but the volume there is quite low.
Deposits to Exchanges
Here is the chart for the daily transfers/deposits to exchanges.
Note: Transfers between exchanges accounts are excluded from the data above.
We can notice some spikes in the data above. There seems to be more volatility in the past especially in 2021, and then some uptrend in January 2023 again.
On average there is 270k HIVE deposited daily. Note these are not net deposits. For that we need to look at the daily withdrawals as well.
Withdrawals from Exchanges
The chart for the daily withdrawals looks like this.
As for the above, here as well the transfers between exchanges accounts are excluded.
We can see the strong moves here back in August 2021 as well, and some spikes since then. On average in 2023 there is 200k daily HIVE withdrawn from exchanges.
Net Daily Deposits
When we add the deposits and withdrawals on a daily basis the chart looks like this.
The most noticeable moves here as well are back in 2021, when first there was a lot of withdrawals and then deposits to exchange. Since then, we ca see some spikes up and down, but much smaller moves.
Monthly Net Deposits VS Withdrawals
When we add the deposits and withdrawals on a monthly basis the chart looks like this.
A clearer representation here.
Again, the volatility back from 2021 is noticeable here as well. This is because of the HBD movements at the time, when HBD increased to above its peg, and a lot of HIVE was withdrawn from exchanges and converted to HBD.
When we zoom in 2023 we get this:
In 2023, the year started with January having more HIVE withdrawn from exchanges then deposited, a total of -1.5M HIVE, then a small increase in February, a jump in March to 6M, a drop again in April and a positive net deposit in the last months around 2M monthly.
In summary a total of 24M net HIVE was transferred to exchanges in 2023.
Top Accounts that Deposited to Exchanges in the Last 30 Days
Who has transferred the most funds to exchanges? Here is the chart for the last 30 days.
The @swap2020 is on the top here with 400k HIVE deposited to exchanges in the last 30 days, followed by @sl-swap and @hivekeeper79.
Note that this is a net HIVE deposited to exchanges, with both, deposits and withdrawals taken into account.
Top Accounts that Withdrawn from Exchanges in the Last 30 Days
Who has withdrawn the most funds from exchanges? Here is the chart for the year.
The @domor account is on the top here with almost 275k withdrawn from exchanges in the last 30 days, followed by @grx121 and @danieljusto.
HIVE Balance on Exchanges
What is the amount of HIVE on exchanges?
Here is the chart.
As we can see the overall HIVE balance on exchanges has been growing, with some dips along the way. Recently there were small dips in April and one more in February 2023.
In 2023 at the start there was 140M HIVE on exchanges and at the end of 2023 there is 165M. A 25M more HIVE added to exchanges in 2023. This is a record year for HIVE added on exchanges. Back in 2022 there was around 15M, while 2021 was negative.
When we plot the balance on the exchanges against the total HIVE supply, we get this.
HIVE share on exchanges:
From the chart above we can say that the HIVE balance on exchanges has been growing both in absolute and in relative terms.
There was some oscillation in 2023, a drop back in February, a steady increase in March, a drop again in April and somewhat a steady share in May 2023.
At the begging of 2023 there was 35% of the HIVE supply on exchanges and now there is a 39% or a 4% increase. In 2022 there was an increase from 33% to 35%.
The top exchanges that hold HIVE are the following:
Upbit is absolutely dominant with more than 100M HIVE. On the second spot is Binance with 25M, followed by Bithumb. Bittrex has now almost dropped out from holding HIVE.
Since Upbit is dominating HIVE on exchanges here is the chart for HIVE there.
HIVE on Upbit:
There is now 121M HIVE on Upbit now or 29% of the HIVE supply. The amount of HIVE on Upbit stated with around 20M back in 2020 when the hardfork happened. Since then it has been growing constantly, more aggressively in 2021, then some slowdown in 2022, and more aggressively in the second half of 2023 again.
All the best
@dalz
wasn't Upbit at only around 100M the last time you looked at this? If so, it's a worrying development. Seems like we are completely stuck in a limbo until we get some serious DEX volume going
Yea it was like half a year ago .... we have made progress meanwhile :)
Progress?
Irony ....
So why are people pulling so much Hive on there? ..
Becouse the price is higher there and arbitradge
that makes sense..
Am I reading this right: Upbit moved thier funds to a cold wallet last year https://peakd.com/@cold.dunamu/wallet
and this wallet holds almost 115M Hive. So only around 5M are left liquid on the exchange?
I think this could explain why we do not have big Upbit pumps and dumps anymore (I just checked, and the big volume stopped exactly in April when they moved the funds). This would suggest to me that it has always been Upbit themselves that created these massive movements to dump on people buying Hive... that's a bit of a revelation to me since I have been pondering over these big moves for a while (I guess it should have been obvious- exchanges are only interested in profits)
another point 😅
Upbit is slowly but seemingly surely coming dangerously close to a 51% potential attack opportunity on the network... and that is without any potential collaborates.
Well that will be an outraged thing to do from their side, having in mind there is a 30 day window for the powered up HIVE to be active in governance, the funds are not theirs, users can meanwhile ask to witdraw etc ... but just in tokens perspective its 172M HP vs 121M on Upbit...
p.s. our top witnesses have 80M HP voting for them .... but if a governance battle happens this will increase, their will be fight for HP etc... it most likely ends in similar way as the previous one, just we will see it earlier this time
Any idea what kind of amount is listed for sale and at what prices...? Are people just trading it back and forth or what, I mean I presume it's not just sitting there, that wouldn't make that much sense!
Well I cannot access the exchange to see the bid and sale walls ... any of the korean community can gives a screenshot maybe ;)
What's interesting is that literally no one I follow is from that part of the world, it must just be a few whale curators skimming everything off, obviously Rancher is one of those Offlyhigh, and a few others...?
It doesn't bode well for Hive's price if there's ever a bull run, it'll just be steady sells probably from mid 30 cents up.
Yea, Hive desperatly needs more exchanges listings .... Coinbase is the dream :)
Also some proper smart contracts and defi apps that will pull in more tokens ...
Hopefully it's on the Dev list!
I'm on UpBit now and I don't even see Hive listed anywhere.
Wierd
I followed the link from PeakD and got there, but the global exchange I was on previously didn't list it. I'm not entirely sure what is going on there.
Your posts add a lot to our knowledge and we will see that in no time people will be more interested in this project and people will start investing in it so the price will go up.
That Upbit domination is a bit concerning. I would have preferred a more spread out distribution. Let's just hope they don't do anything nasty over there.
Never deposited or exchanged HIVE yet 😄
That is huge growth on Upbit.
Yep, wonder will it stop at some point
what are they doing with it there! 😅
So much selling pressure, as it used to be
Thats what the data shows
There should be more variety, it's too concentrated. I would like to know what the 2023 evolution of Hive Engine is.
I hope everything goes well with HIVE on Upbit. Because it’s hard to imagine how much the price of HIVE will drop if there is a delisting there.
Its going to zero :)
jk
Interesting data as always
!discovery 20
@tipu curate
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I hope we get more people who
Will deposit or invest in Hive soon
That’s the goal
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this is not good at all.
@tipu curate
The data analysis is interesting, but the upbit is a bit scary.
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That's a massive growth though on the exchange
There should have been a upgrade in the stats but let's see how it goes