Data reveals that Binance saw major BTC and XRP inflows during price drops, signaling smart money movements. Whale activity impacted XRP’s price decline.

Data from a leading on-chain analytics platform has provided an in-depth look into the average flow of Bitcoin (BTC) into various cryptocurrency exchanges. It details how traders are moving their BTC holdings based on the coin’s price changes.

Bitcoin Sell-Offs Surge on Binance

The data provides the average BTC inflow to exchanges between late January and April 2025. According to the data, the rise in average inflows corresponded to periods of massive drops in BTC’s price.

This trend indicates that some holders transferred their BTC holdings to exchanges following the rise in the asset’s price, either to take profits or sell and reduce their losses. The reverse was also true when BTC’s price was stable; the average inflows were lower on many exchanges.

An analysis of individual exchanges shows that Binance recorded the highest BTC inflows during most BTC price drop periods.

Binance Sees Notable XRP Whale Inflows

The on-chain data also provided a deeper look into the movement of XRP to Binance by large holders, known as whales. The data also showed that whale inflows for this cryptocurrency into Binance were high around mid-January, after which XRP’s price significantly dropped. 

This suggests the whales’ massive XRP sales contributed to the coin’s price drop. The data also showed another highly visible rise in whale inflows into the exchange in late March. 

As it previously happened, these inflows corresponded with a huge price drop in XRP’s price. Then, towards the end of last month, the data showed cooler colors, indicating lower whale inflows into Binance during this period. 

XRP price rose slightly and was stable during this period.

Ethereum Supply on Binance Shrinks

Meanwhile, the second-largest cryptocurrency has continued its recovery phase since the start of this month. It trades above $1,800 after its value rose by 15.1% in the last fourteen days.

Eth’s price has recorded excellent performance despite a drop in public enthusiasm and concerns among some investors. Although the latest price changes are proof of renewed buying interest, some on-chain indicators suggest that a price uptrend could happen soon. 

Ethereum supply on exchanges is one such indicator. On-chain data indicates that Binance’s ETH exchange supply ratio has dropped dramatically.

This metric monitors the amount of ETH available on this platform relative to its circulating supply. The data showed that this ratio is now at a multi-week low, which proves that there has been a rise in the amount of ether withdrawn from Binance.

With Binance being the largest crypto exchange based on liquidity and volume, a change in the ETH supply on this platform usually reflects broader crypto market changes. In addition, the liquidation heatmap shows an increasing number of short positions for this cryptocurrency between $1,900 and $2,000.

This price zone could act as resistance (where the price struggles to break through) since many aim to sell their holdings should Ether’s price reach this range. Even though its price has been relatively stable, Ethereum has recorded a notable drop in trading activity in the last day.

The 10.65% drop in trading volume to $14.05 billion suggests a decrease in market participation. Also, the cryptocurrency’s volume-to-market cap ratio of 6.56% indicates mild trading momentum compared to its overall size.

With Bitcoin’s price on an uptrend at the time of writing, the crypto market cap has reclaimed the $3 trillion valuation. This rise reaffirms investor confidence in the market. If the recovery continues, the overall crypto market cap could eventually reclaim its recent peak of $3.72 trillion.

In addition, BTC’s dominance is now at 64%, the highest in four years. The rise in this metric is proof of a rising preference for this cryptocurrency, which has proven to be a safe haven amid economic uncertainty.

Also, the coin trades above $96,000 after marginal gains of 0.7% in the last 24 hours. The coin continues to note gains over the past two weeks. The rise is influenced by corporate treasury adoption like Metaplanet’s recent BTC purchases and fund inflows into Bitcoin ETFs by institutional investors.  

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