TechFlow news, September 12 — According to a Coindesk report citing the latest data from crypto analytics firm CCData, Bitcoin buy-side activity remains strong on Kraken and Coinbase despite ongoing market-wide pressure. Data shows that large transaction volumes on these two exchanges are significantly higher than on other major platforms, suggesting institutional investors may be accumulating during the dip.
Hosam Mahmoud, research analyst at CCData, provided data to CoinDesk indicating that since September 2024, the buy-to-sell ratio (the ratio of buy order volume to sell order volume) on Kraken and Coinbase reached 250% and 123%, respectively. A ratio above 100% indicates more buying than selling, reflecting net bullish pressure. In contrast, Bybit and Binance recorded buy-to-sell ratios of 99% and 97%, close to equilibrium.
Notably, the average trade size for the BTC/USDT spot pair on Kraken and Coinbase stood at $2,148 and $1,321 respectively, substantially higher than Bybit's $898 and Binance's $747. This suggests Kraken and Coinbase are more likely attracting institutional or long-term investors executing large trades, while Bybit and Binance tend to serve retail investors engaging in smaller, high-frequency transactions.
