Stablecoin exchange inflow SURGE - what gives?

Profile picture
Ibis
Nov 26, 2020

If you've read our insights for a while, you may know I like to pay attention to the relationship between the exchange inflow of major stablecoins and Bitcoin’s own market action.


Several times this year, Bitcoin’s price recovery seems to have coincided with a corresponding spike in the amount of top-cap stablecoins moving to known exchange wallets, signaling a potential surge in ‘buy the dip’ sentiment.


I reported on this phenomenon back in May following Bitcoin’s +10% pump, and once again earlier this month, on the back of BTC’s +16.9% week. In both cases, I noted that Bitcoin’s bounceback seems to occur ”when stablecoin whales and/or retail owners start offloading their stablecoin bags - and especially if there’s a corresponding spike in the inflow of stablecoins to exchanges“.


That’s why it’s at least worth noting that virtually all

There’s more of this Insight

Choose your subscription plan

Sanbase PRO

Unlock all PRO insights
$51/mo

Years of market experience, compressed in each report

Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.

Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.

Our previous TOP calls:
WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
insight card
signal form

What you get with Sanbase Pro:

  • Members-only daily market insights and analysis
  • 30+ on-chain, social & project indicators for 900 cryptocurrencies
  • Custom alerts for the coins' price, on-chain & social trends
  • Santiment Spreadsheet plugin with 10+ pre-made market templates
  • Personalized asset watchlists and weekly performance reports

Gain unfair advantage with Sanbase Pro

Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!

Assets from this insight

Tether logo

TetherUSDT

$ 1.00

0.14%in last 7d
USD//Coin logo

USD//CoinUSDC

$ 1.00

0.02%in last 7d
Multi-collateral DAI logo

Multi-collateral DAIDAI

$ 1.00

0.04%in last 7d
TrueUSD logo

TrueUSDTUSD

$ 1.00

0.05%in last 7d
Binance USD logo

Binance USDBUSD

$ 0.999900

0.03%in last 7d
0