Cryptoquant Data Shows Sharp Decline on Gemini Exchange Activity
- On-chain data from Cryptoquant shows a sharp decline in Gemini Exchange activity.
- Cryptocurrency reserves on Gemini in BTC, ETH, and stablecoins are currently at multi-year lows.
- Trading volume on Gemini dropped by 52% as of December 2022.
Data from Cryptoquant, the platform for on-chain data analysis shows a sharp decline in exchange activity on Gemini. As reported on its Twitter account, all key indices investigated returned negative signals.
Cryptoquant’s latest report shows that Gemini’s cryptocurrency reserves are currently at multi-year lows. BTC deposits from other exchanges into Gemini are also on the decline. Such reflects the waning confidence among users over the stability of the crypto exchange.
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