Description
The Exchange Reshuffling Ratio Breakdown returns the Reshuffling Ratio for every supported exchange in a single response, enabling cross-exchange comparison at a glance. Each entry maps an exchange name to its current ratio of internal (in-house) token transfer volume relative to its total balance, averaged over a short rolling window. Higher values across multiple exchanges may indicate sector-wide liquidity stress, while outliers can highlight venues actively reallocating assets internally and worth deeper investigation. Exchange Reshuffling Ratio returns the same ratio for a single exchange.
Technical. For BTC, exchange-internal transfers are identified via entity clustering; for ETH, via labeled addresses. 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.
This metric was introduced by CryptoVizArt. For further details, please refer to his introductory article.