Definition. The Exchange Multi-Asset Drain Score measures whether an exchange is losing assets across BTC, ETH, USDT and USDC simultaneously. It is the 7-day relative balance change of the least-drained of the four assets, measured in coins.

Technical. For each exchange, the 7-day relative change in balance is computed for BTC, ETH, USDT and USDC, and the score is the least negative of the four, capped at 1. A value is only returned when all four assets are available for the exchange. Exchange metrics are based on Glassnode's continually updated set of labeled exchange addresses, together with statistical and data-science methods that are refined over time. The series is therefore mutable: its established history is stable, but recent data points may revise as labels update. For methodology and limitations, see our article on exchange metrics and Exchange Data Transparency Notice.

Interpretation. Because the score is bounded by the least-drained asset, a strongly negative value means every one of the four assets is leaving the exchange at the same time. A score below -0.2 (all four assets' balances are down more than 20% over 7 days) indicates a broad-based withdrawal, which may reflect declining client confidence, a solvency concern or a security incident, rather than routine rebalancing of a single asset. We recommend using the hourly resolution for monitoring, as it reacts more quickly to sudden withdrawals than the daily resolution.