{"id":509989,"date":"2022-11-15T01:00:47","date_gmt":"2022-11-14T22:00:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity\/"},"modified":"2022-11-15T01:00:47","modified_gmt":"2022-11-14T22:00:47","slug":"ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity\/","title":{"rendered":"# FTX collapse followed by an uptick in stablecoin inflows and DEX activity"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a368de0c6541\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a368de0c6541\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity\/#%E2%80%9D_FTX_collapse_followed_by_an_uptick_in_stablecoin_inflows_and_DEX_activity_%E2%80%9C\" >&#8221; FTX collapse followed by an uptick in stablecoin inflows and DEX activity   &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity\/#Exchange_exodus_for_Ether_but_not_stablecoins\" >Exchange exodus for Ether, but not stablecoins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity\/#Bitcoin_miners_continue_to_sell\" >Bitcoin miners continue to sell<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity\/#Decentralized_and_centralized_altcoin_performance\" >Decentralized and centralized altcoin performance<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_collapse_followed_by_an_uptick_in_stablecoin_inflows_and_DEX_activity_%E2%80%9C\"><\/span>&#8221; FTX collapse followed by an uptick in stablecoin inflows and DEX activity   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-e13e51fa>On-chain data from Glassnode show Bitcoin\u2019s (BTC) movements hit a new record for the largest net decline in aggregate BTC balances on exchanges, reducing by 72,900 BTC in one week.\u00a0<\/p>\n<p>A similar movement occurred in April 2020, November 2020 and June 2022 with the current outflow leaving around 2.25 million BTC on exchanges. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/f8f32742-fbbf-4084-89de-5ef4fd26191d.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange balances with net position change line. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_exodus_for_Ether_but_not_stablecoins\"><\/span>Exchange exodus for Ether, but not stablecoins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While Ether (ETH) did not see an all-time high outflow from exchanges, 1.1 million Ether were withdrawn from exchanges over the last week. According to Glassnode, this marks the largest 30-day exchange balance decline since September 2020 during the DeFi summer in the same year. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/e8ce16d9-6ee5-48f0-8dec-3de621218e98.png\"><figcaption style=\"text-align: center;\"><em>Ether exchange net position change. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Exchange outflows hit historic highs as Bitcoin investors self-custody<\/em><\/strong><\/p>\n<p>Contrary to Bitcoin and Ether&#8217;s declining balances on exchanges, stablecoins balances remain net positive on exchanges, meaning their balances are growing. Over $1.04 billion in USDT, USDC, BUSD and DAI moved to exchanges on Nov. 10. This marks Nov. 10 as the seventh largest stablecoin inflow to exchanges. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/3fd02aae-83db-4972-b3f4-53828c569c82.png\"><figcaption style=\"text-align: center;\"><em>Stablecoins exchange net volume. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>According to Glassnode, with the major influx of stablecoins to exchanges, the current $41.186 billion total is an all-time high. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/903984e0-5c9c-4230-8541-a1d25266d826.png\"><figcaption style=\"text-align: center;\"><em>Stablecoins on exchanges. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_miners_continue_to_sell\"><\/span>Bitcoin miners continue to sell <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin miners continue to remain under extreme pressure and data highlights that hash prices are at all-time lows. The record-low hash prices led to miners selling around 9.5% of their treasuries which is around 7.76 million BTC. This sell-off marks the sharpest monthly decline for miner balances since September 2018. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/3cfc43e0-a88d-4244-804d-793a933bf400.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin miner balances. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Decentralized_and_centralized_altcoin_performance\"><\/span>Decentralized and centralized altcoin performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Utilizing asset basked to analyze performance between decentralized exchange (DEX) and centralized exchange (CEX) tokens, Delphi digital found that when comparing the basket prices to BTC, the DEX basket had gained 24% whereas the CEX basket is down 2%. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/aa6024b6-4bf3-4206-be53-54707e6deaec.png\"><figcaption style=\"text-align: center;\"><em>CEX and DEX basket performance. Source: Delphi Digital<\/em><\/figcaption><\/figure>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>ly, the on-chain activity correlates to overall Bitcoin, Ether and altcoin market sentiment with the current FTX chaos catalyzing historic exchange outflows and CEX tokens\u2019 underperformance. A likely trend to emerge from the current chaos is a steady uptick in self-custodied cryptocurrencies and an increase in DEX use. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ftx-collapse-followed-by-an-uptick-in-stablecoin-inflows-and-dex-activity\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX collapse followed by an uptick in stablecoin inflows and DEX activity &#8220; On-chain data from Glassnode show Bitcoin\u2019s (BTC) movements hit a new record for the largest net decline in aggregate BTC balances on exchanges, reducing by 72,900 BTC in one week.\u00a0 A similar movement occurred in April 2020, November 2020 and June&#8230;<\/p>\n","protected":false},"author":1,"featured_media":509990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNDA3NmI0MDAtZWEzZi00NmM5LThmNGEtNjcxNDQwYjQ2M2NlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74862,74937,74863,74860,74868,82402,124292,75493,88700,73785,36041],"class_list":["post-509989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-defi","tag-ether-price","tag-pancakeswap","tag-stablecoin","tag-uniswap","tag-markets","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=509989"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509989\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/509990"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=509989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=509989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=509989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}