DiegoMey.btc ๐ŸŒŠ
DiegoMey.btc ๐ŸŒŠ 1 minutes reading from Bitcoin

Stablecoins See Large Outflows From Exchanges Amid Huge Outflows

btc and eth have seen large outflows from exchanges in the wake of the FTX collapse, with investors instead moving into stablecoins and using decentralized exchanges. Who cares? ๐Ÿงต๐Ÿ‘‡

1) an uptick in DEX activity suggests a rising interest in self-custody options.

2) On Nov. 10, there was an inflow of stablecoins to exchanges totaling over 1.04 billion. This is the seventh-largest stablecoin inflow to exchanges ever.

3) According to Glassnode, with the major influx of stablecoins to exchanges, the current 41.186 billion total is an all-time high.

4) The Stablecoin Supply Ratio (SSR) is a metric that compares Bitcoin's market cap to the market cap of all stablecoins. A high SSR indicates low potential buying pressure and is considered bearish. In contrast, The SSR is currently bullish, with a reading of 2.28.


Research: Bitcoin buy pressure mounts as stablecoin exchange supply moves higher
This post is based on this twitter thread.


Please login to comment.