BUSD has seen 12 billion withdrawn from exchanges in 3 months, USDT, BTC have been net beneficiaries

BUSD has under 10 billion balance on exchanges — while USDT has a stablecoin dominance of 55%, in addition to inflows for Bitcoin.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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Quick Take

  • The outflows for BUSD continue, which sees a balance on exchanges of less than 10 billion.
  • The balance on exchange was as high as 22 billion on exchanges in November 2022 — a trend expected to continue.
  • USDT and Bitcoin have benefited the most from these outflows — as USDT dominates at 55%, the highest since November 2021.
  • While the Bitcoin stablecoin supply ratio suggests outflows of stablecoins have gone into Bitcoin — its highest ratio for over two years.
BUSD Balance on exchange: (Source: Glassnode)
BUSD Balance on exchange: (Source: Glassnode)

 

SSR: (Source: Glassnode)
SSR: (Source: Glassnode)
Supply Dominance: (Source: Glassnode)
Supply Dominance: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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Binance USD BUSD (24h)
$1.00 0.00%
Market Cap $40.01M
24H Volume $1.11M