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Exchanges Receive 2nd Largest Stablecoin Inflows Ever: Fuel For Bitcoin?

  • Exchanges have received the second largest stablecoin inflows ever, potentially benefiting the Bitcoin rally.
  • The Exchange Inflow for stablecoins has seen a sharp increase, indicating high demand for trading.
  • Stablecoin exchange inflows suggest that investors are looking to sell these tokens and potentially buy into volatile assets like Bitcoin.
  • Massive deposits of ERC-20 stablecoins, amounting to $9.3 billion, were made to platforms like Binance and Coinbase.

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