The Whales Outflow metric tracks the rolling volume of withdrawals from an exchange to large non-exchange entities, normalized by the exchange’s balance. A higher value reflects increased whale-driven outflows, which may indicate active large-client withdrawal behavior. If such activity is concentrated on a single exchange, it warrants further assessment — under typical circumstances, it could result from internal wallet management operations; however, in extreme cases, it may signal declining client confidence or even a potential security breach.

This metric was introduced by CryptoVizArt. For further details, please refer to his introductory article.

This is the Point-in-Time (PiT) variant of Exchange Whales Outflow. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.