Stablecoin inflows to cryptocurrency exchanges surged following Donald Trump's election victory and a 25 basis points cut by the Federal Reserve.
ERC-20 Stablecoin Influx to Exchanges
Following the US elections, $9.3 billion in ERC-20 stablecoins were deposited into cryptocurrency exchanges, marking the second-largest influx since their inception. Binance and Coinbase received a significant portion of these funds: $4.3 billion and $3.4 billion, respectively.
Market Expectations Post-2024 Elections
The crypto community believes the 2024 election results have ushered in a new era for the crypto market. QCP Capital expressed confidence that Bitcoin's positive momentum will continue into 2025.
Future of Bitcoin and Stablecoins
As traders watch Trump's potential impact on the market, interest in Bitcoin ETFs has grown, with over $1.38 billion poured into these investment products.
Market participants expect further significant inflows, potentially leading to Bitcoin price growth and strengthening the cryptocurrency sector.
