• About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
Wednesday, February 8, 2023
  • Login
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
No Result
View All Result
Home Ethereum

Exchange Inflows Ramp Up As Crypto Investors Clamor To Exit Market

June 14, 2022
in Ethereum
Reading Time: 3 mins read
0
Crypto inflows
Share on FacebookShare on TwitterShare on RedditShare on Whatsapp


With the crypto market’s decline, there have been a number of things that have changed drastically in the space. Mostly, investors have been rushing to get out of the market before the crash takes more of their funds. What this has led to has been a significant increase in the number of cryptocurrencies that are flowing to exchanges. Most notably have been Bitcoin and Ethereum, whose daily exchange inflows have touched billions of dollars.

Billions In Crypto To Exchanges

The data for the last 24 hours shows that the amount of funds that are being transferred into centralized exchanges is up over the last week. Instead of the sub-$1 billion figures that have usually been recorded, the volume has ramped up significantly.

Glassnode reports that more than $3 billion in Bitcoin had moved into exchanges over the last 24 hours. In total, there was $3.2 billion worth of BTC recorded to have flowed into exchanges, with $3.3 billion flowing out, leading to a negative net flow of -$103.5 million. 

Related Reading | More Than 253,000 Traders Liquidated As Crypto Bloodbath Continues

The same was the case with Ethereum which had also seen $2.1 billion flowing in while $1.5 billion had flowed out. The positive net flow of $532.4 million for Ethereum is in line with the outflow trend that had been recorded for the digital asset over the last couple of months.

Interestingly, although high, the numbers for the last 24 hours are almost 50% below what was recorded on Sunday. This is understandable given that the majority of the market crash had happened in the late hours of Sunday, thus causing investors to want to move their funds.

Total market cap below $1 trillion | Source: Crypto Total Market Cap on TradingView.com

To put this in perspective, Sunday had seen $6.5 billion worth of bitcoin flow into centralized exchanges, while Ethereum’s numbers had clocked as high as $3.7 billion in the same time period.

🚨 Weekly On-Chain Exchange Flow 🚨#Bitcoin $BTC
➡️ $6.5B in
⬅️ $6.5B out
📉 Net flow: -$9.9M#Ethereum $ETH
➡️ $3.7B in
⬅️ $3.5B out
📈 Net flow: +$181.6M#Tether (ERC20) $USDT
➡️ $3.5B in
⬅️ $3.2B out
📈 Net flow: +$339.4Mhttps://t.co/dk2HbGwhVw

— glassnode alerts (@glassnodealerts) June 13, 2022

Tether Outflows Says No Accumulation

Tether is the largest of the stablecoins and possesses the largest range of crypto trading pairs that are present in the market. Its inflow and outflow trend has often helped to know if crypto investors were looking to purchase coins or were in fact dumping their coins.

Related Reading | Bitcoin Drops To 18-Months Lows, Has The Market Seen The Worst Of It?

The Tether inflows and outflows for the last two days show that instead of trying to accumulate, investors are heading for the safety provided by these stablecoins. On Sunday, USDT inflows were slightly above outflows, which does not spell good news for the crypto market. This trend has now continued as the last 24 hours have now seen inflows matching outflows.

What this indicates is that investors are not buying up bitcoin or Ethereum. Rather, they are converting their cryptocurrencies into stablecoins to escape the extreme volatility of the current market. 

Featured image from Forbes India, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…





Source link

Related articles

Mixed Signals: Proponents Can

Silvergate Capital Repositions To Ride The Crypto Storm

February 4, 2023
Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain

Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain

February 4, 2023
Share95Tweet60ShareSend

Related Posts

Mixed Signals: Proponents Can

Silvergate Capital Repositions To Ride The Crypto Storm

February 4, 2023
0

Advertisement &nbsp &nbsp A below par financial performance, bankruptcy filings and company closures, exposure to FTX’s collapse,...

Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain

Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain

February 4, 2023
0

Advertisement &nbsp &nbsp The bank is licensed to issue digital assets in Russia and has been exploring...

Crypto Regulation Needed for Both Good And Bad Actors -WEF Annual Meeting 2023

Crypto Regulation Needed for Both Good And Bad Actors -WEF Annual Meeting 2023

January 31, 2023
0

Advertisement &nbsp &nbsp What role will crypto regulation play, what type of regulation is required, and who...

Crypto Regulation Needed for Both Good And Bad Actors -WEF Annual Meeting 2023

A Game Changer in Crypto Adoption? Binance Announces Prepaid Crypto Card in Brazil

January 31, 2023
0

Advertisement &nbsp &nbsp The service, in collaboration with MasterCard, allows users to make purchases in-store and online...

Gemini Accuses DCG of Being Behind Genesis’ Woes

Gemini Vows Legal Action Against Genesis’ Parent Company amidst Bankruptcy Filing

January 30, 2023
0

Advertisement &nbsp &nbsp Investors are blaming Gemini for the failed joint Earn Program with Genesis. On the...

Load More
  • Trending
  • Comments
  • Latest
Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

September 23, 2022
Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

December 17, 2022
Crypto inflows

Exchange Inflows Ramp Up As Crypto Investors Clamor To Exit Market

June 14, 2022
Twitter Begins Massive Layoffs — Elon Musk Says 'No Choice' Citing $4M Loss per Day

Twitter Begins Mass Layoffs — Elon Musk Says ‘No Choice’ Citing $4M Loss per Day – Featured Bitcoin News

November 6, 2022
Bank of America Prepares for Possible US Debt Default, Says CEO Brian Moynihan

Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan – Economics Bitcoin News

0
Floyd Mayweather – Boxing Champion Promoted an ICO

Floyd Mayweather – Boxing Champion Promoted an ICO

0
Cannabis Industry Going Crypto | CryptoPost

Cannabis Industry Going Crypto | CryptoPost

0

Why South Korea Decided To Ban ICOs?

0
Bank of America Prepares for Possible US Debt Default, Says CEO Brian Moynihan

Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan – Economics Bitcoin News

February 8, 2023
btc miners better pick than btc analyst

BTC vs BTC miners: H.C. Wainwright analyst picks a side

February 8, 2023
Investment Manager Predicts Gold Could Hit $3,000 This Year

Investment Manager Predicts Gold Could Hit $3,000 This Year – Markets and Prices Bitcoin News

February 7, 2023
File Transfer Giant Wetransfer Joins NFT Industry, Partners with Blockchain Platform Minima for March Launch of Minting Product

File Transfer Giant Wetransfer Joins NFT Industry, Partners with Blockchain Platform Minima for March Launch of Minting Product – Blockchain Bitcoin News

February 7, 2023

Recommended

LimeWire signs partnership with Universal Music

LimeWire signs partnership with Universal Music

May 17, 2022
Alchemy Pay Adds Euros Pay-in Offerings via Paytend – Press release Bitcoin News

Alchemy Pay Adds Euros Pay-in Offerings via Paytend – Press release Bitcoin News

February 18, 2022
Coinbase Increases Transparency For New Listings In Roadmap

Coinbase Increases Transparency For New Listings In Roadmap

April 13, 2022
As Bitcoin and Ethereum See Sharp Drops, 18 Crypto Assets Captured Double-Digit Gains Last Week

As Bitcoin and Ethereum See Sharp Drops, 18 Crypto Assets Captured Double-Digit Gains Last Week – Markets and Prices Bitcoin News

December 29, 2021

Recent News

Bank of America Prepares for Possible US Debt Default, Says CEO Brian Moynihan

Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan – Economics Bitcoin News

February 8, 2023
btc miners better pick than btc analyst

BTC vs BTC miners: H.C. Wainwright analyst picks a side

February 8, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Business
  • Ethereum
  • Guide
  • ICO News
  • Litecoin
  • Market Analysis
  • Press Release
  • Regulation
  • Ripple
  • Stablecoin
  • Trading
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

CryptoReception © 2021 All rights reserved

No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading

CryptoReception © 2021 All rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.