Insights

Stablecoin withdrawals from exchanges reach $800M on Jan. 30

exchange68September 13, 2024

0 1 1 minute read

Quick Take

Roughly 10,000 BTC was sent to exchange addresses on Jan. 30
The fifth biggest inflow in the past three months, equivalent to around $230 million
In addition to roughly $800 million of stablecoins leaving exchanges
Almost half of this amount ($300 million) is BUSD being withdrawn from exchanges.
Stablecoin balance on exchanges is now sitting at $35.6 billion

Stablecoin balance on exchange: (Source: Glassnode)

BUSD balance on exchange: (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.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.