# Most CRV purchases stay outside exchanges for the next month

Within thirty days, 21.8% of DEX-bought CRV reaches exchanges under FIFO. Proportional tracing gives 22.5%.

CRV sits near the lower end of the peer ranking for the share reaching exchanges.

Over the full observed follow-up, about 65% of purchased CRV returns to DEX custody. The market repeatedly trades existing inventory.

## CRV buying is less exchange-bound than most peers

FIFO tracing of gross DEX-purchase units into expanded exchange custody. Only purchase cohorts with complete 30-day follow-up enter the horizon comparison. Unmatched owner receipts stay in the purchase denominator. MKR/SKY conversions preserve ancestry.

[Figure](../charts/carrier_fifo.svg) · [Data](../data/carrier_fifo.csv)

| Observation | FIFO (% reaching exchanges within 30 days) |
| --- | --- |
| BAL | 70.2815 |
| CVX | 40.1687 |
| 1INCH | 40.1061 |
| COMP | 36.8538 |
| LINK | 34.8776 |
| UNI | 34.4327 |
| ENA | 29.8612 |
| AAVE | 27.2358 |
| LDO | 26.8293 |
| CRV | 21.8221 |
| SKYEQ | 20.8633 |
| PENDLE | 12.2894 |

## CRV buying is less exchange-bound than most peers

Proportional tracing of gross DEX-purchase units into expanded exchange custody. Only purchase cohorts with complete 30-day follow-up enter the horizon comparison. Unmatched owner receipts stay in the purchase denominator. MKR/SKY conversions preserve ancestry.

[Figure](../charts/carrier_pro_rata.svg) · [Data](../data/carrier_pro_rata.csv)

| Observation | Proportional (% reaching exchanges within 30 days) |
| --- | --- |
| BAL | 70.4985 |
| CVX | 41.3394 |
| 1INCH | 40.5699 |
| LINK | 38.129 |
| COMP | 37.9296 |
| UNI | 36.4396 |
| ENA | 30.9719 |
| AAVE | 29.0044 |
| LDO | 28.2596 |
| CRV | 22.4639 |
| SKYEQ | 21.5166 |
| PENDLE | 14.06 |