As $BTC had one of its worst trading days in over 6 months, traders have moved almost $6 billion on exchanges
holdings as they moved $1.3 billion on trading platforms in order to sell. The difference in outflows and inflows for Ethereum is less crucial compared to Bitcoin's netflow.
The netflow of Tether stablecoin remains negative as the demand for it increased during the capitulation of traders on the . Besides market conditions empowering Tether, the de-pegging of UST stablecoin could have led to transferring the trading volume into alternative stable solutions like Tether.An increased pace of inflows shows the reluctance of traders and investors to hold digital assets as they wish to take profits or losses and leave the space. But active selling creates a supply surplus on the market, which leads to a discount and a potential trend reversal.
The number of longs on centralized exchanges also shows a positive dynamic toward the gradual recovery of the market, which suffered a 23% drop in recent days. At press time, Bitcoin trades at $31,809.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NVIDIA Fined $5.5M for Inadequate Disclosures in Cryptomining: SECThe Securities and Exchange Commission charged NVIDIA with inadequate disclosures regarding the role of crypto mining in the company’s gaming business.
Read more »
Man stabbed, robbed of $5 in OaklandA 54-year-old was stabbed multiple times and robbed of $5 Saturday night near the Laurel district, authorities said.
Read more »
Record debt: Consumers are racking up credit card debt at record ratesThe Federal Reserve reports consumer debt levels for March 2022 climbed by more than $52 billion. Revolving credit, which includes credit cards, surged by more than 21%.
Read more »
Philly’s public defenders say staff pay inequity is a racial justice issue — and they need $5.8M to help fix itOne 16-year employee can't afford to live in the city on her current salary and works a second job on weekends to make ends meet.
Read more »
Inside the $23.5 million mansion poised to smash another local record in Southern CaliforniaThe home's eight-figure asking price is more than double what it sold for less than six years ago.
Read more »