Definition. The total count of transfers between exchanges. Total Transfer Volume between Exchanges is the volume counterpart.

Technical. Transfers within the same exchange are not included. For ETH, only top-level transactions are counted and internal transfers (call traces) are not, unlike in Number of Transfers from Exchanges and Number of Transfers to Exchanges. 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.