Significant increase in fixed coins entering the exchanges: It was 53 billion dollars per day
While it continues to be discussed whether there will be a new wave of decline in cryptocurrencies, the increase in the amount of fixed coins entering the exchanges does not go unnoticed. According to the information given by the CryptoQuant analyst, the daily stablecoin average entering centralized exchanges reached the level of $53 billion per day.
Recent on-chain data shows that the average value of the total exchange entering the total exchange in USDT and USDC, the two largest stablecoins, reaches $53 billion per day. According to the information given by Axel Adler, a CryptoQuant analyst, the figure has started to increase significantly in recent days.
Entering fixed coins into exchanges is seen as an increase in the possibility of people or institutions making these transfers making new purchases.
'In direct proportion to Bitcoin purchases'
In the information he gave from the Adler X account, he stated that this figure was $72 billion in March, the last peak of Bitcoin, and said:
“Monthly average USDT-USDC stock market inflows rose to $53 billion per day. This figure is above the annual average. While the Bitcoin price was $70,000 in March, this daily entry level was $72 billion. The increase in stable coin inflows is also directly proportional to Bitcoin purchases...”
In the chart below shared by Adler, it is seen that these fixed coin inflows have also increased during the periods when the cryptocurrency world is experiencing very hard ups and downs. In May, when the 2021 bull came, the Terra LUNA crash in May in 2022, and in March, when the last peak price was seen, fixed coin inflows peaked peaked.
