@ngocnew
STABLECOINS ON TOP CEX EXCHANGES THIS WEEK
š BITCOIN BALANCE
- Bitcoin fell below 100K this week, but withdrawals on exchanges were still very large, mainly at Coinbase
- ETF inflows this week were positive ~$450M, much lower than previous weeks. Blackrock continues to have a net positive of ~$1.5B but unexpectedly on December 20th, the result was negative ($72.7M)
- BTC.D returns to ~60%
Summary: Withdraw ~15000 BTC (about $1.45B)
š STABLECOIN BALANCE (USDT, USDC)
- USDT/USDC withdrawn from the exchange, led by Binance
- The first week since Trump was elected president, Tether did not mint coins worth >1B
Summary: Withdraw ~$260M USDT, Withdraw ~$505M USDC
=> DOM increases back to 60%, stablecoins are continuously burned and withdrawn from the exchange, the liquidation volume from the exchanges for 3 consecutive days >$1B shows the confusion of investors. However, the amount of BTC withdrawn from the exchange remains stable, making us still believe that the market will quickly return to green
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