As large-scale capital outflows occurred in Bitcoin and Ethereum, the market showed a short-term risk-averse trend.
According to Cryptometer data as of 11:20 AM on the 20th, $29 million in Turkish Lira (TRY), $28 million in Korean Won (KRW), $19 million in Euros (EUR), $9.4 million in Reals (BRL), and $8.2 million in US Dollars (USD) flowed into the cryptocurrency market on that day. These funds were primarily converted into stablecoins.
$291 million moved from Tether (USDT) and dispersed across multiple cryptocurrencies. $6.6 million moved from FDUSD, most of which flowed into Bitcoin (BTC).
On this day, $224 million flowed into USDC. $43 million flowed into U, $21 million into USD1, and $9.1 million into Bitcoin (BTC). In addition, funds flowed into TRX ($11 million), USDe ($7 million), XRP ($3.6 million), and others.
Looking at the flow of capital outflows, about $118 million flowed out of Bitcoin (BTC), of which $55 million went to USDT, $27 million to the US dollar, $23 million to USDC, and $9.3 million to the Korean won.
About $87 million flowed out of Ethereum (ETH) and was converted into $29 million in USDT, $28 million in US dollars, $13 million in USDC, and $9 million in KRW.
$21 million flowed out of XRP, $17 million from Robo, $16 million from OPN, $12 million from Dogecoin, $9.6 million from Solana, and $7.6 million from Zcash.
The outflowed funds moved mainly into stablecoins and fiat currencies. $174 million was consolidated into Tether (USDT) on this day. $53 million settled in USDC.
$69 million in fiat currency, $35 million in Korean Won (KRW), and $9.7 million in Euros (EUR) were cashed out.
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