On-chain data sourced from CryptoQuant shows Gemini’s 30-day simple moving average of $BTC inflows from accounts at other exchanges has dropped to a six-year low, reports.
that the halt in customer withdrawals on the company’s $900 million Earn program “does not impact any other Gemini products and services.”
Bitcoin holders might not be making the distinction that the yield-focused Earn program is separate from the exchange. “Declining BTC inflows from other exchanges to any particular exchange could suggest investors/traders see that particular exchange as less desirable to have their coins on,”The overall industry has been hit hard in this bleak crypto winter, and yet other crypto exchanges have not seen such a dramatic fall in their BTC inflows as Gemini.
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