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Stablecoin buying power on exchanges increases as BTC and ETH see outflows Stablecoin buying power on exchanges increases as BTC and ETH see outflows

Stablecoin buying power on exchanges increases as BTC and ETH see outflows

with insights from Glassnode

June brought on a significant increase in stablecoin buying power on exchanges, indicating there could be an increase in buying pressure on the market amid large Bitcoin and Ethereum outflows.

Stablecoin buying power on exchanges increases as BTC and ETH see outflows

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

In this article, we delve deep into the recent surge in stablecoin volume flowing into exchanges, a clear indicator of shifting market dynamics. We take a closer look at the exchange buying power metric, analyzing the 30-day change in the supply of USDT, USDC, BUSD, and DAI, and the implications of these movements. As we've seen a steady increase in exchange buying power since late May, reaching levels recorded in mid-December 2022, there's a particular event in June that provides a surprising insight... Discover what this $4.6 billion increase in exchange buying power signifies for the future of the crypto market...