Historic amount of Stablecoins have been moved onto centralised exchanges in the last 24 hours. Both Tether and USDC

In the last 24 hours, a massive amount of USDT and USDC have been moved from wallets onto centralised exchanges.

Record amount of USDT moved onto exchanges

Currently over $2bn USDT have been deposit on exchanges in the last 24 hours. Almost all of this was sent and deposited on Binance.

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Record for USDC as well.

The funds could be used for spot buying BTC or altcoins, or for longing or shorting via derivatives as well. So its anyone’s guess what it is used for, but nevertheless interesting to see this kind of money moving again after few months crab market.