Definition. Exchange Reshuffling Ratio quantifies the volume of internal (in-house) token transfers at an exchange relative to that exchange's total balance, averaged over a short rolling window.

Technical. Readings are capped to the 0-to-1 range. 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. A higher ratio suggests the exchange is actively reallocating its liquidity internally, behavior that, if persistent, may warrant further investigation into the exchange's liquidity management practices. A lower ratio indicates more stable internal flows and a healthier operational state.

Notes. Introduced by CryptoVizArt. For further details, see his introductory article.