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USDC Exchange Reserves Rise As Investors Escape From Bitcoin
On-chain data shows the USD Coin exchange reserves have gone up recently, suggesting that investors may be exiting volatile markets like Bitcoin.
USD pyès monnen tout echanj rezèv yo te monte DènyèmanAs pointed out by an analyst in a CryptoQuant post, there have been signs of selling from Bitcoin investors for moving into USDC.
The USD Coin “all exchanges reserve” is an indicator that measures the total amount of the stablecoin currently present in wallets of all exchanges.
Lè valè metrik sa a ogmante, sa vle di envestisè yo swa depoze USDC yo nan echanj kounye a, oswa deplase nan stablecoin a soti nan lòt kriptografik.
Investors usually move into stablecoins like USD Coin when they want to escape from the volatility associated with cryptos like Bitcoin.
Nan lòt men an, lè valè rezèv la desann, li implique kantite USDC sou echanj ap diminye nan moman sa a.
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Jan de tandans sa a ka akòz envestisè yo santi kounye a se yon pwen ideyal pou sote nan mache temèt, oswa li ka tou senpleman akòz moun ki gen yo retire nan bous pèsonèl.
Koulye a, isit la se yon tablo ki montre tandans nan rezèv USDC tout echanj sou dènye mwa yo:
Looks like the value of the indicator has been going up in recent days | Source: CryptoQuantKòm ou ka wè nan graf ki anwo a, USD Coin tout echanj rezèv la te obsève kèk ogmantasyon nan semèn pase a.
The chart also shows the trend for USDC inflow to exchanges, which is another metric that measures the total amount of the stablecoin moving into centralized exchanges.
Li sanble ke aflu yo pa te nòmalman wo dènyèman, men rezèv la toujou ap fè eksperyans mouvman anlè.
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This could mean that the increase in the reserve isn’t just due to investors depositing their USDC, but also from them exchanging cryptos like Bitcoin pou stablecoin la.
The trend may suggest that investors are leaving volatile markets for now, due to the current uncertain market conditions. This recent selling can prove to be bearish for the values of Bitcoin ak lòt cryptocurrencies.
Bitcoin priNan moman sa a ekri, Bitcoinpri a flote alantou $ 19.1k, desann 7% nan sèt dènye jou yo. Pandan mwa ki sot pase a, kript la te pèdi 35% nan valè.
Tablo ki anba a montre tandans pri pyès monnen an pandan senk dènye jou yo.
The value of the crypto seems to have declined over the last couple of days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.comSous orijinal: NewsBTC