maartunn
Stablecoin deposits to Binance have risen by $5.76B over the last 30 days. đ
Bitcoin has been under heavy pressure in recent days, dropping from a recent high of $106,000 to $95,000, a decline of more than 10%. Even with this pullback, stablecoin inflows to Binance remain strong. Over the past month, more than $5.76B in stablecoins has been deposited to Binance, suggesting traders are moving funds onto the exchange to buy or trade. During the same period, other exchanges saw net outflows. Bybit recorded a $219M outflow, while OKX saw a $633M outflow. It's especially interesting given tonight's announcement of the U.S. Producer Price Index (PPI).