Stablecoin inflow to cryptocurrency exchanges reaches new monthly high of over $9.7 billion
According to Leon Weidmann, head of research at The Onchain Foundation, this indicates growing demand for digital assets from crypto investors.
The inflow of stablecoins to exchanges has reached $9.7 billion in 30 days! This is the largest monthly inflow in history. Liquidity of stablecoins is returning. Speculative demand continues to grow, - he said.
According to experts, the growing inflow of stablecoins to cryptocurrency exchanges will affect the price of Bitcoin, which in the coming days may reach $100,000.
In August 2024, Tether issued USDT worth $1.3 billion. Since then, the price of Bitcoin has risen by more than 21%, from a five-month low of $49,500 to $60,200.
If history repeats itself and Bitcoin starts to rise in price, then a 14.7% increase compared to the current price level will lift the coin well above the target of $100,000.
The trend that is observed after the halving is also very positive for predicting the future of the flagship cryptocurrency, - said Ryan Lee, chief analyst at Bitget Research.
