Exchange stablecoins surge by $7 billion… "Signal of investor fund withdrawal"
Son Min
Summary
- Exchange stablecoins have surged by $7 billion.
- An analysis found that investors are holding Tether (USDT) after selling virtual assets.
- It said this indicates that investors are withdrawing funds from cryptocurrencies and moving them into stablecoins.
An analysis found that investors are holding Tether (USDT) after selling virtual assets (cryptocurrencies).
On the 31st (local time), cryptocurrency analyst Ali Martinez said on X (formerly Twitter), "Exchange stablecoins surged by $7 billion this month," and said, "This shows that investors are withdrawing funds from cryptocurrencies and holding them in Tether."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit