Or the exchange handles these trades internally and nothing happens on the blockchain? If latter is the case, then once in a while I should see the exchange makes a huge transaction on the blockchain, right? Is this why we see those many "multi-sender multi-receiver" transactions on the ledger
Its off-chain transactions and its normal that you cant really see nor able to check out on when those transactions would push through specially if those are happened internally and just like what others been
saying above that they do following those common protocols thats why there would be some slight delay and this is something normal when dealing with centralized platforms but if talking
about blockchain to blockchain transactions then you can eventually check it out.
So better deal and get used to it.