Stablecoin Inflows to Crypto Exchanges: Are Buyers Bullish? By DailyCoin
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Stablecoin Inflows to Crypto Exchanges: Are Buyers Bullish?
- CryptoQuant has reported an increase in stablecoin exchange inflows, measuring the year’s highest level.
- Low BTC inflows have indicated a preference for holding and accumulating.
- and Circle have been actively minting throughout Q1 of 2023, significantly increasing their circulating supplies.
Centralized crypto exchanges have been experiencing increased inflows (deposits) of stablecoins, signaling a potential uptick in buying pressure. Despite this coinciding with a short-term decline in the price of , analytics firms have suggested that the market’s potential purchasing power is strengthening.
Stablecoin On-Chain Data Providers Findings
According to recent reports by CryptoQuant, centralized crypto exchanges have been seeing increased stablecoin inflows. On March 5th, the data aggregator reported the “highest level [of inflows] of this year” as stablecoin balances on crypto exchanges surged. Stablecoins being…
Continue Reading on DailyCoin
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Stablecoin Inflows to Crypto Exchanges: Are Buyers Bullish?
- CryptoQuant has reported an increase in stablecoin exchange inflows, measuring the year’s highest level.
- Low BTC inflows have indicated a preference for holding and accumulating.
- and Circle have been actively minting throughout Q1 of 2023, significantly increasing their circulating supplies.
Centralized crypto exchanges have been experiencing increased inflows (deposits) of stablecoins, signaling a potential uptick in buying pressure. Despite this coinciding with a short-term decline in the price of , analytics firms have suggested that the market’s potential purchasing power is strengthening.
Stablecoin On-Chain Data Providers Findings
According to recent reports by CryptoQuant, centralized crypto exchanges have been seeing increased stablecoin inflows. On March 5th, the data aggregator reported the “highest level [of inflows] of this year” as stablecoin balances on crypto exchanges surged. Stablecoins being…
Continue Reading on DailyCoin
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