On 22 May 2018, 10,000 BTC was used to buy two pizzas. That's $80M for 2 pizzas today!
Weekly Exchange Stats
Analyzing transactions to and from exchanges can give a good indication of the supply and demand of a crypto asset.
An increase in outflow of a crypto asset from exchanges corresponds to decreased supply.
An increase in inflow of stablecoins to exchanges corresponds to increased demand.
On Oct 21, BTC price rebounds by ~3% along with a positive increase in net inflow of ~$10M.
We consistently see massive increases in inflow & outflow volume on Monday's when compared to the weekend. Crypto might be a 24/7 market but looks like traders need a break
On Sunday, Oct 20, there was a large increase in both inflow and outflow of ~$17M. Compared to Oct 19, inflows are up ~70% and outflows are up ~90%. Trading flows likely caused by ETH prices recorded at their lowest this week.
We observe a significant increase in Stablecoin outflow from Oct 21 to Oct 22.
All ETH Outflow metrics have increased indicating a slight conservative trading atmosphere.
PAX inflows are up overall and similarly, outflows are down overall this week. This trend suggests that traders are purchasing PAX this week.