USDC Exchange Reserves Rise As Investors Escape From Bitcoin

On-chain data shows the USD Coin exchange reserves have gone up recently, suggesting that investors may be exiting volatile markets like Bitcoin. USD Coin All Exchanges Reserve Has Been Climbing Up Recently As pointed out by an analyst in a CryptoQuant post, there have been signs of selling from Bitcoin investors for moving into USDC. The USD Coin “all exchanges reserve” is an indicator that measures the total amount of the stablecoin currently present in wallets of all exchanges. When the value of this metric goes up, it means investors are either depositing their USDC to exchanges right now, or shifting to the stablecoin from other cryptos. Investors usually move into stablecoins like USD Coin when they want to escape from the volatility associated with cryptos like Bitcoin. On the other hand, when the value of the reserve heads down, it implies the amount of USDC on exchanges is decreasing at the moment. Related Reading | Extreme Fear Remains: Recapping What’s Behind The Crypto Market Panic This kind of trend may be because of investors feeling now is an ideal point for jumping into volatile markets, or it may simply be due to holders withdrawing to personal wallets. Now, here is a chart that shows the trend in the USDC all exchanges reserve over the last few months: Looks like the value of the indicator has been going up in recent days | Source: CryptoQuant As you can see in the above graph, the...