{"id":521941,"date":"2023-03-06T14:20:24","date_gmt":"2023-03-06T14:20:24","guid":{"rendered":"https:\/\/wncen.com\/?p=521941"},"modified":"2024-06-11T14:33:04","modified_gmt":"2024-06-11T14:33:04","slug":"exchanges-large-stablecoin-inflows-what-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/exchanges-large-stablecoin-inflows-what-bitcoin\/","title":{"rendered":"Exchanges See Large Stablecoin Inflows, What Does It Mean For Bitcoin?"},"content":{"rendered":"

On-chain data shows exchanges have observed large stablecoin inflows recently. Here’s what this may mean for the price of Bitcoin.<\/p>\n

Stablecoin Exchange Netflow Has Shown A Positive Spike Recently<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the latest stablecoin deposits are the highest observed this year so far. The relevant indicator here is the “stablecoin exchange netflow<\/a>,” which measures the net amount of stablecoins that are moving into or out of the wallets of all centralized exchanges. The metric’s value is simply calculated by taking the difference between the inflows and outflows.<\/p>\n

When the value of this metric is greater than zero, it means the inflows taking place are currently higher than the outflows, and thus a net number of tokens is being deposited into these platforms. On the other hand, negative values imply investors are making withdrawals right now.<\/p>\n

As stablecoins<\/a> are tied to fiat currencies, their values are generally stable (hence the name). Thus, investors swap into these tokens whenever they want to escape the volatility associated with coins like Bitcoin.<\/p>\n

When such holders eventually feel that prices are right to jump back into the volatile coins, however, they simply convert their stables again into their desired cryptocurrencies, providing buying pressure on their prices.<\/p>\n

Related Reading: Bitcoin Price Turns Red Below $23K, What Could Trigger A Sharp Decline<\/a><\/div>\n

Investors usually use exchanges for making moves like these so the netflow can tell us which behavior is more dominant currently. Naturally, positive values of the indicator suggest these holders are buying coins like Bitcoin with their stablecoins at the moment, while negative ones may imply selling is going on.<\/p>\n

Now, here is a chart that shows the trend in the stablecoin exchange netflow over the last few months:<\/p>\n

\"Stablecoin<\/p>\n

Looks like the value of the metric has been pretty high in recent days | Source: CryptoQuant<\/a><\/pre>\n
As shown in the above graph, the stablecoin exchange netflow has observed a very high positive spike recently. This means that a large amount of these tokens have been deposited into exchanges.<\/p>\n
Totaling almost $10 billion worth of stables flowing into these platforms, this latest spike in the indicator was the largest that has been seen during the year 2023 so far.<\/p>\n
Related Reading: This Report Claims Bitcoin NFT Market Will Grow By 2025, But How?<\/a><\/div>\n
Interestingly, this large deposit has come after the price of Bitcoin has seen a steep plunge, which may suggest that investors could be using their stablecoins to buy the cryptocurrency while its value is at a potential discount.<\/p>\n
If the latest positive stablecoin exchange netflow is indeed a sign that the holders are applying buying pressure<\/a> on coins like Bitcoin, then the prices of the cryptocurrencies that they are swapping into may observe a bullish effect from this.<\/p>\n
Bitcoin Price<\/h2>\n
At the time of writing, Bitcoin is trading around $22,400, down 4% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
The value of the asset seems to have plunged recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Traxer on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows exchanges have observed large stablecoin inflows recently. Here’s what this may mean for the price of Bitcoin. Stablecoin Exchange Netflow Has Shown A Positive Spike Recently As pointed out by an analyst in a CryptoQuant post, the latest stablecoin deposits are the highest observed this year so far. The relevant indicator here is the “stablecoin exchange netflow,” which measures the net amount of stablecoins that are moving into or out of the wallets of all centralized exchanges. The metric’s value is simply calculated by taking the difference between the inflows and outflows. When the value of this metric is greater than zero, it means the inflows taking place are currently higher than the outflows, and thus a net number of tokens is being deposited into these platforms. On the other hand, negative values imply investors are making withdrawals right now. As stablecoins are tied to fiat currencies, their values are generally stable (hence the name). Thus, investors swap into these tokens whenever they want to escape the volatility associated with coins like Bitcoin. When such holders eventually feel that prices are right to jump back into the volatile coins, however, they simply convert their stables again into their desired cryptocurrencies, providing buying pressure on their prices. Related Reading: Bitcoin Price Turns Red Below $23K, What Could Trigger A Sharp Decline Investors usually use exchanges for making moves like these so the netflow can tell us which behavior is more dominant currently. Naturally, positive values of the indicator suggest these holders are buying coins like Bitcoin with their stablecoins at the moment, while negative ones may imply selling is going on. Now, here is a chart that shows the trend in the stablecoin exchange netflow over the last few months: Looks like the value of the metric has been pretty high in recent days | Source: CryptoQuant As shown in the above graph, the stablecoin exchange netflow has observed a very high positive spike recently. This means that a large amount of these tokens have been deposited into exchanges. Totaling almost $10 billion worth of stables flowing into these platforms, this latest spike in the indicator was the largest that has been seen during the year 2023 so far. Related Reading: This Report Claims Bitcoin NFT Market Will Grow By 2025, But How? Interestingly, this large deposit has come after the price of Bitcoin has seen a steep plunge, which may suggest that investors could be using their stablecoins to buy the cryptocurrency while its value is at a potential discount. If the latest positive stablecoin exchange netflow is indeed a sign that the holders are applying buying pressure on coins like Bitcoin, then the prices of the cryptocurrencies that they are swapping into may observe a bullish effect from this. Bitcoin Price At the time of writing, Bitcoin is trading around $22,400, down 4% in the last week. The value of the asset seems to have plunged recently | Source: BTCUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":521945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11680,1119,1144,11164,87935,85656,87934],"class_list":["post-521941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bullish","tag-btc","tag-btcusd","tag-stablecoin","tag-stablecoin-exchange-inflow","tag-stablecoin-inflow","tag-stables"],"acf":[],"yoast_head":"\nExchanges See Large Stablecoin Inflows, What Does It Mean For Bitcoin?<\/title>\n<meta name=\"description\" content=\"On-chain data shows exchanges have observed large stablecoin inflows recently. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Exchanges See Large Stablecoin Inflows, What Does It Mean For Bitcoin?","url":"http:\/\/wncen.com\/news\/exchanges-large-stablecoin-inflows-what-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/exchanges-large-stablecoin-inflows-what-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/traxer-n2PdYWT62WA-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/traxer-n2PdYWT62WA-unsplash-scaled.jpg?fit=2560%2C1704"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bullish","btc","btcusd","stablecoin","stablecoin exchange inflow","stablecoin inflow","stables"],"dateCreated":"2023-03-06T14:20:24Z","datePublished":"2023-03-06T14:20:24Z","dateModified":"2024-06-11T14:33:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Exchanges See Large Stablecoin Inflows, What Does It Mean For Bitcoin?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/exchanges-large-stablecoin-inflows-what-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/exchanges-large-stablecoin-inflows-what-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/traxer-n2PdYWT62WA-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/traxer-n2PdYWT62WA-unsplash-scaled.jpg?fit=2560%2C1704\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bullish\",\"btc\",\"btcusd\",\"stablecoin\",\"stablecoin exchange inflow\",\"stablecoin inflow\",\"stables\"],\"dateCreated\":\"2023-03-06T14:20:24Z\",\"datePublished\":\"2023-03-06T14:20:24Z\",\"dateModified\":\"2024-06-11T14:33:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/traxer-n2PdYWT62WA-unsplash-scaled.jpg?fit=2560%2C1704","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/521941"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=521941"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/521941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/521945"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=521941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=521941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=521941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}