Coin Metrics Revises Binance Exchange Supply Data
Coin Metrics updated its exchange-address data after identifying additional addresses, while a CryptoQuant analyst reported heavier spot selling than buying on Binance and Coinbase.
Updated on Nov. 7, 2026 in Inflation
Coin Metrics revised its Binance exchange-address data after disclosing additional addresses in a notice issued Nov. 4. Separately, CryptoQuant analyst Darkfost described more aggressive spot selling than buying on Binance and Coinbase, as Bitcoin was quoted at $75,871.
Why it matters
Exchange-supply metrics are used to track how much bitcoin is held on trading platforms, so changes to the underlying address coverage can shift how those figures are read. The revisions reflect broader address identification rather than a confirmed change in actual exchange holdings.
The figures come from an on-chain analytics provider's exchange-supply methodology, which sums balances across identified hot and cold wallets at the end of each interval. The extent of the revision and the size of the corrected balances were not stated.
The players
Coin Metrics
Coin Metrics is a crypto-asset data and analytics provider known for its exchange supply and market data methodologies.
CryptoQuant
CryptoQuant is a blockchain analytics platform that publishes on-chain and exchange flow data used by crypto market analysts.
Bureau of Labor Statistics
The Bureau of Labor Statistics is the United States federal agency that publishes the Consumer Price Index inflation data.
The details
Coin Metrics said it would update exchange-address data after additional addresses were disclosed, with supply metrics expected to shift on Nov. 4 and Nov. 5. Its trade records include time, price, amount and, where known, the taker's side, which analysts use alongside wallet data.
Timeline
Nov. 4: Coin Metrics issued notice of the planned exchange-address data update.
Nov. 5: Daily supply metrics were expected to reflect the data update.
Nov. 7: CryptoSlate reported Darkfost's observation of spot selling outpacing buying on Binance and Coinbase.
Nov. 10, 8:30 a.m. ET: The Bureau of Labor Statistics releases October CPI inflation data.
Macro View
The Nov. 10 October CPI release arrives on the Bureau of Labor Statistics' standard monthly schedule, the benchmark U.S. inflation reading that markets monitor alongside crypto flows. Comparing crypto market signals against that official series helps separate exchange-level data changes from broader inflation trends.
Investors tracking bitcoin exchange flows should note that supply figures may be revised as address coverage improves, which can change reported balances. Inflation data due Nov. 10 could shift expectations for monetary policy and risk assets.
The takeaway
Exchange-supply metrics depend on how completely wallet addresses are identified, so revisions do not necessarily mean holdings changed. Readers should check whether a data source has disclosed methodology updates before drawing conclusions from sudden shifts.
What happens next
The Bureau of Labor Statistics releases October CPI inflation data on Tuesday, Nov. 10 at 8:30 a.m. Eastern Time.
Further reading
For broader context on price pressures, see the Inflation section.
Source note: This article includes information reported by CryptoSlate.
