Editor's PiCK
Ahead of the U.S. interest rate announcement…9 billion dollars flowed into exchanges
Son Min
Summary
- Ahead of the Federal Reserve (Fed)'s interest rate announcement, a large amount of stablecoins flowed into exchanges.
- Axel Adler Jr., a CryptoQuant contributor, said that over the past 36 hours 9 billion dollars worth of stablecoins flowed into exchanges.
- An increase in stablecoin reserves indicates a rise in standby buying funds on exchanges.
Ahead of the U.S. Federal Reserve (Fed)'s interest rate announcement, a large amount of stablecoins flowed into exchanges.
On the 17th (local time), Axel Adler Jr., a CryptoQuant contributor, said on X (formerly Twitter), "Ahead of the Fed's interest rate decision, stablecoins worth 9 billion dollars flowed into exchanges over the past 36 hours," he said.
Typically, an increase in stablecoin reserves means that standby buying funds on exchanges have increased.
Meanwhile, the Fed will announce the benchmark interest rate at 03:00 KST on the 18th.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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