Analysis of the funding situation in one week: Stablecoins issued another 800 million US dollars

After the bad news on the funding side last week, it was a disturbing week. But last week brought good news. First, the total market value of stablecoins increased by another 800 million US dollars, and 500 million US dollars of USDT flowed into the Binance exchange, which may be a bargain hunting.

19,000 BTC flowed out of the exchange. This is the first large net inflow since more than 30,000 BTC flowed in in December. It feels like a batch of funds have changed hands. In addition, the BTC contract holdings have increased again, and the CME holdings have increased.

Recently, the Bitcoin ETF is approaching, but because it has already risen a lot, the market analysis is relatively large, and the funding side is also swinging quite a bit.

1 Total market value of stablecoins

In the past week, the total market value of stablecoins increased from 124.9 billion to 125.7 billion, with a net increase of 800 million US dollars. Among them, USDT increased from 90.8 billion to 91.3 billion US dollars, with an increase of 500 million US dollars. USDC increased from 24.6 billion to 25 billion US dollars, with an increase of 400 million US dollars. For other stablecoins, the market value of TUSD decreased. Last week, the total market value of stablecoins decreased by 300 million US dollars, and the market fomo sentiment at the time was worrying. However, in the past week, stablecoins were issued again, and funds flowed in again, which can slightly reduce this worry.

2. Exchanges’ Stock of Stablecoins

As for the stablecoins in the exchange, USDT on Binance exchange increased from 19.7 billion to 20.2 billion last week, with a net inflow of 500 million US dollars. USDC decreased from 720 million to 690 million, with a net outflow of 30 million US dollars. Fuusd increased from 1.6 billion to 1.74 billion US dollars, with a net inflow of 140 million US dollars. In general, the net inflow of stablecoins in Binance exchange last week was about 600 million US dollars.

On OKX exchange, USDT dropped from 4.9 billion to 4.8 billion USD, with a net outflow of 100 million USD. However, USDC and TUSD did not change much.

3 BTC/ETH stocks on exchanges

In the past week, the stock of BTC on exchanges dropped from 2.38 million to 2.361 million, with a net outflow of 19,000. On the other hand, ETH dropped from 14.18 million to 14.13 million, with a net outflow of 50,000, which is not a big change. The important thing is that BTC once again had a large net outflow, which eased the extraordinary inflow since December. It may be a relatively large chip turnover.

4 BTC contract holdings

The open interest of BTC contracts has increased again. Specifically, with the rise in BTC prices on Monday, the open interest of BTC contracts increased from 17.5 billion to 19.5 billion US dollars, an increase of 2 billion US dollars, and then it will fall again. The current open interest of the contract is 18.9 billion US dollars. The open interest of CME has the same pattern as the overall TCT contract open interest. It began to increase again on Monday, with a total increase of 900 million US dollars.