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? 🧵👇
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.
this twitter thread.