Stablecoin Inflows to Crypto Exchanges Hit $9,7 Billion

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HappyCoinNews2024/11/22 10:00

By:HappyCoinNews

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Stablecoin inflows to cryptocurrency exchanges hit new monthly high of over $9,7 billion.

According to Leon Weidmann, head of research at The Onchain Foundation, this indicates a growing demand for digital assets from crypto investors.

Stablecoin inflow to exchanges reached $9,7 billion in 30 days! This is the largest monthly inflow in history. Liquidity stablecoins is back. Speculative demand continues to grow, he said.

According to experts, the growing influx of stablecoins to cryptocurrency exchanges will affect the price of Bitcoin, which could reach $100,000 in the coming days.

In August 2024 years Tether issued USDT worth $1,3 billion. Since then, the price of Bitcoin has risen more than 21%, from a five-month low of $49,500 to $60,200.

Stablecoin Inflows to Crypto Exchanges Hit $9,7 Billion image 0

Influx of stablecoins to crypto exchanges

If history repeats itself and Bitcoin starts to appreciate, then a 14,7% increase from the current price level will lift the coin well above the $100,000 target.

The trend seen after the halving is also very positive for the future of the flagship cryptocurrency, said Ryan Lee, chief analyst at Bitget Research.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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