Stablecoin Inflows Pump On Exchanges

Reports of increased stablecoin inflows on crypto exchanges has been reported by analytics firm CryptoQuant. The firm reported the highest level of this year surged on March 5th at the same time the analysis noted declining Bitcoin prices in the short-term but added the potential purchasing power of the market is increasing.

Investors could be getting ready to place orders at current levels as stablecoin inflow is usually a sign of this. 

Contradictory to this Glassnode noted the average number of USDC receiving addresses have just reached a one month low of 1544 per hour.

Currently stablecoins account to 12.7% of the entire crypto market with a total capitalization of around $136 billion combined as per CoinGecko data.