Exchange Outflow (Mean) measures the average amount of a crypto asset withdrawn from exchanges per transaction, reflecting the scale of individual withdrawal behavior and the degree to which larger holders are moving coins off-platform.
When mean outflow rises, it indicates that individual withdrawals are carrying more coins on average - a signal that larger participants are moving assets to self-custody or cold storage. This reduces available sell-side supply on exchanges and is historically associated with accumulation behavior and decreasing selling pressure. Sustained elevated mean outflow, particularly when driven by fewer but larger transactions, is generally considered a bullish on-chain signal.
Unlike total outflow, the mean filters out noise from high transaction volume periods, making it a more reliable indicator of conviction behind withdrawal activity.
