Exchange Inflows Ramp Up As Crypto Investors Clamor To Exit Market

With the crypto market’s decline, there have been a number of things that have changed drastically in the space. Mostly, investors have been rushing to get out of the market before the crash takes more of their funds. What this has led to has been a significant increase in the number of cryptocurrencies that are flowing to exchanges. Most notably have been Bitcoin and Ethereum, whose daily exchange inflows have touched billions of dollars. Billions In Crypto To Exchanges The data for the last 24 hours shows that the amount of funds that are being transferred into centralized exchanges is up over the last week. Instead of the sub-$1 billion figures that have usually been recorded, the volume has ramped up significantly. Glassnode reports that more than $3 billion in Bitcoin had moved into exchanges over the last 24 hours. In total, there was $3.2 billion worth of BTC recorded to have flowed into exchanges, with $3.3 billion flowing out, leading to a negative net flow of -$103.5 million. Related Reading | More Than 253,000 Traders Liquidated As Crypto Bloodbath Continues The same was the case with Ethereum which had also seen $2.1 billion flowing in while $1.5 billion had flowed out. The positive net flow of $532.4 million for Ethereum is in line with the outflow trend that had been recorded for the digital asset over the last couple of months. Interestingly, although high, the numbers for the last 24 hours are almost...