Transfers totaling $1.3 billion in $USDC to @Coinbase have raised eyebrows, with many seeing it as a possible “giant buy signal” for #Bitcoin and #Ethereum.
What impact could this influx of capital have on market dynamics?
Traders often view large stablecoin deposits on exchanges as a bullish sign, indicating possible large buy orders in the near future, while significant crypto deposits on exchanges can signal a potential sell-off, making traders wary of a downturn.
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content