Key Takeaways
Coinbase and Binance both hit deeply negative net-transaction readings on June 18. Coinbase reached near -15,500, its deepest withdrawal dominance of 2026. Bybit’s early-June deposit spike near +27,000 collapsed to roughly -200. The metric tracks transaction counts, not the volume of XRP moved. That points to a change in how holders are behaving, not just where their coins sit. The conclusion comes first because it is the part tha…
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