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What to expect?! USDC Exchange Inflow (Total): $1,076,587,008 💲

Today, USDC Exchange Inflow spiked over $1.0B USDC. What to expect? If we look at it simply, we see that an increase in USDC on exchanges generally has a positive effect on the price of Bitcoin. Everything suggests that today's recent deposit is also contributing to this. Around 5:00 PM, more than 1 billion USDC was sent to exchanges, with the majority (875 million USDC) going to Coinbase. While we can never be 100% certain, this strongly resembles a transaction from a large institutional player. This assumption makes sense given the size of the deposit (875 million) and the fact that Coinbase is a commonly used exchange among institutional parties. Looking at the past, we see that large USDC deposits on exchanges often coincide with positive price movements. For example, during the aftermath of the FTX crash in December 2022, similar transactions occurred daily, ultimately coinciding with the bottom of the bear market. A small nuance is that USDC deposits to an exchange can also be used for other purposes, such as staking, collateral, or transferring to other users.