HomeUncategorizedFTX collapse followed by an uptick in stablecoin inflows and DEX activity By Cointelegraph

FTX collapse followed by an uptick in stablecoin inflows and DEX activity By Cointelegraph

November 15, 2022

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FTX collapse followed by an uptick in stablecoin inflows and DEX activity

On-chain data from Glassnode show Bitcoin’s (BTC) movements hit a new record for the largest net decline in aggregate BTC balances on exchanges, reducing by 72,900 BTC in one week.

A similar movement occurred in April 2020, November 2020 and June 2022, with the current outflow leaving around 2.25 million BTC on exchanges.

exchange balances with net position change line. Source: Glassnode
Ether exchange net position change. Source: Glassnode
Exchanges’ stablecoin net volume. Source: Glassnode
Stablecoins on exchanges. Source: Glassnode
Bitcoin miner balances. Source: Glassnode
CEX and DEX basket performance. Source: Delphi Digital