Fifth biggest outflow of stablecoins on Ethereum in the past two years

exchange68September 13, 2024

0 1 1 minute read

Definition

This chart shows the daily net flow of stablecoins moving in and out of exchanges for the top three stablecoins USDT, USDC, and BUSD. This metric accounts only for stablecoins issued and transferred on the Ethereum blockchain and exchanges Glassnode monitor.

Quick Take

Recent scrutiny over BUSD has seen significant outflows of stablecoins, roughly $250 million in the past week.
BUSD has seen outflows of roughly $424 million, while USDT has seen $68 million worth of outflows.
However, USDC has seen inflows of $170 million over the past week.

Stablecoin Net Flow: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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