Exchanges with the largest inflows of stablecoins revealed
This marks the highest stablecoin inflow since early February 2024, when the figure exceeded $7.23 billion.
Binance currently leads, followed by Bybit with $1.3 billion, while other platforms collectively attracted $1.72 billion.
Experts from CryptoQuant noted that the period of peak stablecoin inflows coincided with the sharp cryptocurrency market decline on October 10–11.
“Such a surge in stablecoin deposits may indicate a recovery in positive sentiment among traders, who are allocating capital to exchanges for potential accumulation, ” analysts explained.
If stablecoin deposit volumes remain high and the macroeconomic backdrop stabilizes, there is a strong chance of a notable crypto market recovery in the coming weeks, CryptoQuant suggested.
Earlier, specialists from Andreessen Horowitz stated that stablecoins pegged to fiat currencies, such as the U.S. dollar, have evolved beyond a speculative trading tool and become a global macroeconomic force.
See also: "Changpeng Zhao Calls for Binance’s Return to the U.S. Market"
Українська
Русский
English

