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Stablecoins went wild in the days before Bitcoin's recent surge By Cointelegraph – Up News Info


Stablecoins went wild in the days before Bitcoin’s recent surge

In the days preceding Bitcoin’s latest rise in price, stablecoins went wild, exhibiting some largely unprecedented behavior.

Stablecoins: all stablecoins inflow transaction and address count of all exchanges. Source: CryptoQuant.

On October 18, stablecoins moving to exchanges reached record highs of 60,000 and 56,000 respectively, according to data from CryptoQuant. The outlet’s data tracked USDT on , PAX, USDC, TUSD, DAI, SAI, BUSD, HUSD and USDK. When it comes to the total inflow of all stablecoins in terms of the dollar value, no extraordinary trends were detected.

Stablecoins inflows to exchanges. Source: CryptoQuant.
Tether market capitalization 2020. Source: CoinMarketCap.

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