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- Stablecoin inflows hit over $400 million.<\/span><\/em><\/li>\n
- USDT maintained a dominance in both inflows and outflows.<\/span><\/em><\/li>\n<\/ul>\n
The movements of stablecoins<\/a> across the crypto industry serve as a valuable indicator for understanding crypto dynamics. However, there has been a notable shift in the market recently. <\/span><\/p>\n
What does this shift mean for the sector?<\/span><\/p>\n
Stablecoin inflows set record<\/b><\/h4>\n
According to data from IntoTheBlock<\/a>, there was a significant inflow of stablecoins<\/a> into exchanges on the 26th of January. This marked the highest volume of inflow observed in a considerable period. <\/span><\/p>\n
AMBCrypto\u2019s examination of CryptoQuant\u2019s volume data showed that January saw more daily volume rise than other months. <\/span><\/p>\n
On the 2nd of January, the stablecoin inflow into exchanges was over $478 million, ranking as the third-highest in the month. <\/span><\/p>\n
The top two inflows were on the 2nd of January, with over $673 million, and on the 3rd of January, with $489 million.<\/span><\/p>\n
<\/p>\n![\"Stablecoins](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2024\/01\/All-StablecoinsERC20-Exchange-Netflow-Total-All-Exchanges.png\")
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Source: CryptoQuant<\/p>\n<\/div>\n
However, as of the latest update, the trend has shifted, showing more outflows. Notably, at the close of trading on the 30th of January, the total outflow was around $412 million. <\/span><\/p>\n
This marked the second-highest daily outflow recorded in the month, with the highest outflow being $541 million on the 19th of January. <\/span><\/p>\n
Similar to the inflow, this daily outflow represented one of the most substantial observed in months.<\/span><\/p>\n
Analyzing top stablecoins 24-hour flow<\/b><\/h4>\n
AMBCrypto\u2019s analysis of the 24-hour trading volume of stablecoins on CoinMarketCap<\/a> showed a total volume of around $49 billion. <\/span><\/p>\n
Also, Tether [USDT]<\/a> and USD Coin [USDC]<\/a> had around 90% of the recorded 24-hour volume. <\/span><\/p>\n
At the time of this writing, the 24-hour trading volume for USDT was over $42 billion, while USDC\u2019s volume was around $6 billion.<\/span><\/p>\n
USDT dominates stablecoin flows<\/b><\/h4>\n
AMBCrypto also took a look at USDT\u2019s flow via CryptoQuant, which showed that there was substantial inflow on the 26th of January, amounting to over $373 million. <\/span><\/p>\n
However, the press time trend showed a dominance of outflows, with over $83.4 million observed.<\/span><\/p>\n
- USDT maintained a dominance in both inflows and outflows.<\/span><\/em><\/li>\n<\/ul>\n
![\"Tether](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2024\/01\/Tether-USDERC20-Exchange-Netflow-Total-All-Exchanges.png\")
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