Cryptocurrency Exchange Inflows Spike Amid Positive Traders’ Expectations.
With global cryptocurrency traders regaining confidence once again in the market, there has been a spike in exchange inflows in recent times, as enthusiasts look set to capitalize on the massive surge in crypto asset prices.
Cryptocurrency on-chain metric data platform Santiment posted on its Twitter page the percentage anomalies of digital currencies moved to exchange compared to normal over the last 24 hours.
According to the data, Dusk Network (DUSK) ranked in the number one spot after recording a whopping 868,000% exchange inflow anomalies in the last 24 hours.
Cryptocurrency traders also transferred more Boson Protocol (BOSON) tokens to exchanges, suggesting an 11,000% increase in exchange inflow anomalies in the past day.
compared to normal in the last 24 hours Other tokens transfer to cryptocurrency exchange inflow anomalies captured within this time by Santiment includes Fetch (FET) with a 6,000% surge, OriginTrail (TRAC) at 4,000%, and StormX (STMX) surged by 3,000% in the past day.
“Coins are moving on to exchanges in rapid fashion as a reaction to this pump. Here is the leaderboard of anomalies in coins moved compared to normal: DUSK – 868,000% inflow, BOSON – 11,000%, FET – 6,000%, TRAC – 4,000%, STMX – 3,000%,” Santiment tweeted.
? Coins are moving on to exchanges in rapid fashion as a reaction to this pump. Here is a leaderboard of percent coins moved compared to normal:$DUSK – 868,000% inflow$BOSON – 11,000%$FET – 6,000%$TRAC – 4,000%$STMX – 3,000%$TRB – 3,000%https://t.co/VxHn9Hbssw pic.twitter.com/7Hr7XwYSKB
— Santiment (@santimentfeed) March 22, 2022
Traders Regain Confidence
The crypto market seems to be overcoming the negative impact of the ongoing Russian invasion of Ukraine, as the prices of several digital currencies have recorded a slight increase in the past week.
More so, the massive price swings witnessed weeks after Russia’s President Vladimir Putin declared a full-scale invasion are no longer being experienced.
Bitcoin (BTC) has stayed above $40,000 for over a week with the nascent asset class trading around $42,000 at press time.
Global crypto traders have embarked on a purchasing spree of several digital currencies, adding their favorite asset class at the slightest opportunity they get.
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