# Exchange Addresses Count

## Definition

The number of unique addresses making inflow/outflow transactions of exchanges.

| Metrics                 | Description                                                                      |
| ----------------------- | -------------------------------------------------------------------------------- |
| Addresses Count Inflow  | The number of the token addresses making inflow transactions to the exchange.    |
| Addresses Count Outflow | The number of the token addresses making outflow transactions from the exchange. |

## Interpretation

Considering that it costs fees to send from wallets to different number of wallets, active exchange address count indicates the **closest meaning to the number of investors** that are involved in exchange related transactions.

This naturally leads to possible interpretation of correlating exchange address count to the level of attention of trading investors.

### By value itself <a href="#interpretation" id="interpretation"></a>

It shows whether **few or large numbers of investors** are involved in transaction.

* **High** : **Large number of investors** are accountable for [Exchange In/Outflow & Netflow](https://userguide.cryptoquant.com/cryptoquant-metrics/exchange/broken-reference)
* **Low** : **Small number of investors** are accountable for [Exchange In/Outflow & Netflow](https://userguide.cryptoquant.com/cryptoquant-metrics/exchange/broken-reference)

### By examining trend  <a href="#use-case" id="use-case"></a>

It shows the **level of Exchange Activeness & Volatility**

* **Increasing trend** : **expanding interest and activeness**

  More people are participating in exchange flows indicating expanding interest and activeness of exchange trading leading to possible volatility
* **Decreasing trend** : **diminishing interest and activeness**

  Less people are participating in exchange flows indicating diminishing interest and activeness of exchange trading leading to possible decreasing volatility

## Link to Our Data

* [BTC: Exchange Addresses Count in CryptoQuant Live Chart ](https://cryptoquant.com/asset/btc/chart/addresses)
* [ETH: Exchange Addresses Count in CryptoQuant Live Chart ](https://cryptoquant.com/asset/eth/chart/addresses)
* [BTC: Exchange Addresses Count in CryptoQuant Data API docs](https://cryptoquant.com/docs#operation/BTCgetAddressesCountEF)