Stablecoin Exchange Inflows Plummet $61 Billion—Warning Sign for Bitcoin?
On-chain data shows the exchange inflows related to the stablecoins USDT and USDC have seen a sharp plunge. Here’s what this could mean for Bitcoin and other cryptocurrencies. Stablecoin Exchange Inflows Have Dropped Below Yearly Average In a new post on X, CryptoQuant author Axel Adler Jr has discussed about the latest trend in the Exchange Inflow of the top two stablecoins in the sector, USDT and USDC. The “Exchange Inflow” refers to an on-chain indicator that keeps track of the total amount of a given asset that’s moving into the wallets associated with....
Related News
Gloss, the team behind the world’s largest arts and media company, is bringing the physical artwork into the digital universe with its first NFT titled ‘Warning Sign’. The team is giving one lucky bidder the opportunity to purchase the 1/1 Warning Sign NFT. The holder of the Banksy Warning Sign NFT will also receive a […]
On-chain data shows the crypto exchange Coinbase Pro has received a large amount of Bitcoin inflows today, a sign that could prove to be bearish for the coin’s price. Coinbase Pro Observes Bitcoin Exchange Inflows Of About 3.5k BTC As pointed out by an analyst in a CryptoQuant post, Coinabse Pro has today received big […]
As Bitcoin extended its losses from the previous week, its inflows to cryptocurrency exchanges surged to the highest levels seen in a year — perhaps a telling sign that institutional and retail investors are liquidating their positions en-masse. According to on-chain analytics site Glassnode, crypto exchanges saw a net inflow of 32,274.05 BTC. Net inflows […]
On-chain data shows the Bitcoin exchange whale ratio has started to sharply rise, a sign that these humongous holders may be beginning to dump. Whales Are Behind Almost 90% Of Bitcoin Exchange Inflows Right Now As pointed out by an analyst in a CryptoQuant post, whales may be ramping up dumping, a sign that could be bearish for the price of BTC. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten Bitcoin transactions to exchanges and the total exchange inflows. Since the 10 biggest transactions to exchanges usually belong to the....
Bitcoin has observed a pullback down to the $58,000 level during the past day. Here’s what could be the cause behind it, according to on-chain data. Exchanges Have Seen A Large Amount Of Tether Withdrawals Recently According to data from the market intelligence platform IntoTheBlock, centralized exchanges have recently seen a Tether (USDT) outflow spree exceeding $1 billion. Related Reading: This Is The On-Chain Level That Made The Bitcoin Crash Bottom Investors usually keep their coins in exchanges when they want to trade them in the near future, so them making the move to withdraw....