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Home Crypto News Analysis $1.7 Billion Worth of StableCoins Flowed Into Crypto Exchanges Recently, Making Stablecoins...

$1.7 Billion Worth of StableCoins Flowed Into Crypto Exchanges Recently, Making Stablecoins Supply ATH On Exchanges Touching $19.22 Billion

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Cryptoquant Chief Says $1.7 Billion Stable Coins Have Been Transferred To Crypto Exchanges, Which May Mean A Bullish Scenario for crypto.

Ki Young Ju, CEO of CryptoQuant, revealed on Twitter that nearly $2 billion in stablecoins have recently been transferred to various crypto exchanges.

There are two possible scenarios for such large amount of stable coins transferred to cryptocurrency exchanges. First is that these stable coins will be used to buy BTC, ETH and other altcoins and that will result in increasing price thus pumping the market, the second scenario is that this could be a preparation from exchanges of user withdrawals before a big coming dip.

Ki Young Ju writes:

“$1.7B worth stablecoins flowed into exchanges lately.

Theoretically, exchanges fill up stablecoins to

1/ buy crypto assets as user request (or exchange side)

2/ prepare user withdrawals before the dip

Hopefully, we’re in scenario 1.”

Now, the supply of stablecoins on spot crypto exchanges has skyrocketed to a new all-time high of $19.22 billion.

The current value of $19.22 billion is a increase of five times from the all-time-high of $4.20 billions stable coins that were present in crypto exchanges in late January.


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Albert Brown
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.


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