With those points aside, I’m curious about your stance on the Inflationary Spiral in correlation to algorithmic minting of $ICP for node providers.
I’ll start with this question first, since it’s most likely top of everyone’s mind. I calculate that node providers provided 377k of the ICP that went to exchanges in August (580k ICP x 65%). That’s a little more than 10% of the 3.752M ICP that I think went to exchanges in August (calculated by examining hot wallet account behavior). The vast majority (~70%) of that 3.752M was ICP that had previously dissolved off the NNS. From that perspective, I’m not so concerned over node provider rewards at this time, however I agree it’s worth keeping an eye on and we should be willing to act fast should the data tell us to. Just my two cents.
this definitely would have been easier than manually adding the figures (which is most likely what resulted in my inaccuracy)
The dashboard page is good for high level, but you would have had to look at each NP wallet to get to a % sent to exchanges (as you did). As someone who has done the same analysis, I feel your pain 
It’s brute work tracing ICP movements. Kudos for doing it!
This would explain why on the block explorer it appears as though the Node Providers have chosen to send rewards to an exchange upon receiving them.
When ICP is sent to an exchange it (almost) always goes to an “client exchange wallet” which tells the exchange which of their clients sent them the ICP. They then (again, almost) always sweep that ICP up to their hot wallet. This behavior helps in analysis because it’s easy to spot when ICP is sent to exchanges.
As such, I’d greatly appreciate the additional wallet addresses so I can add them to this article!
Here’s the hot wallets for exchanges that I feel confident about
| Account Name | Ledger Account |
|---|---|
| Binance 1 | d3e13d4777e22367532053190b6c6ccf57444a61337e996242b1abfb52cf92c8 |
| Binance 2 | 220c3a33f90601896e26f76fa619fe288742df1fa75426edfaf759d39f2455a5 |
| Houbi 1 | 935b1a3adc28fd68cacc95afcdec62e985244ce0cfbbb12cdc7d0b8d198b416d |
| Okex 1 | e7a879ea563d273c46dd28c1584eaa132fad6f3e316615b3eb657d067f3519b5 |
| Coinbase 1 | 4dfa940def17f1427ae47378c440f10185867677109a02bc8374fc25b9dee8af |
| Coinbase 2 | a6ed987d89796f921c8a49d275ec7c9aa04e75a8fc8cd2dbaa5da799f0215ab0 |
| Coinbase 3 | 449ce7ad1298e2ed2781ed379aba25efc2748d14c60ede190ad7621724b9e8b2 |
| Coinbase 4 | 660b1680dafeedaa68c1f1f4cf8af42ed1dfb8564646efe935a2b9a48528b605 |
| Coinbase 5 | dd15f3040edab88d2e277f9d2fa5cc11616ebf1442279092e37924ab7cce8a74 |
| Coinbase 6 | 4878d23a09b554157b31323004e1cc053567671426ca4eec7b7e835db607b965 |
| Gate 1 | 8fe706db7b08f957a15199e07761039a7718937aabcc0fe48bc380a4daf9afb0 |
| KuCoin1 | efa01544f509c56dd85449edf2381244a48fad1ede5183836229c00ab00d52df |
| Kraken 1 | 040834c30cdf5d7a13aae8b57d94ae2d07eefe2bc3edd8cf88298730857ac2eb |
| Unknown 1 | acd76fff0536f863d9dd4b326a1435466f82305758b4b1b4f62ff9fa81c14073 |
There’s a bunch of cold wallets, but they get complicated and some I’m less confident about. However, here is Binance’s cold wallet, which I feel very confident about: 609d3e1e45103a82adc97d4f88c51f78dedb25701e8e51e8c4fec53448aadc29
Let me know how I can further help