CryptoOnchain2024-01-15

High Stablecoins Exchange Netflow and Exchange Supply Ratio

According to onchain data, the value of Exchange Supply Ratio for Stablecoins is at its highest value since June 2020. On the other hand, the 30-day moving average of Exchange Netflow for Stablecoins is at its highest value since July 2023. The increase of Exchange Supply Ratio and Exchange Netflow can indicate that the stable coins entered into the exchanges are mostly entered into the market by retail traders. This may cause a relative decrease the price of bitcoin in the coming days and create a local low.