Definition. The mean amount of fees (USD) paid in transactions related to on-chain exchange activity, segmented into flow cohorts:

• Deposits: transactions that include an exchange address as the receiver of funds.
• Withdrawals: transactions that include an exchange address as the sender of funds.
• In-House: transactions that include addresses of a single exchange as both the sender and receiver of funds.
• Inter-Exchange: transactions that include addresses of (distinct) exchanges as both the sender and receiver of funds.

Technical. The mean is computed over transfers, not transactions. If a transaction can be categorized into multiple of these categories (e.g. a transaction that sends funds externally as well as in-house), the fees are split into percentages according to the volume transferred. 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.