Stablecoin inflows to exchanges spike and Bitcoin price hits a new all-time just below $77,000 as investors prepare for a new crypto era under Trump’s presidency.
Stablecoin inflows to cryptocurrency exchanges are seeing a sharp rise after Donald Trump’s win in the United States presidential race and the 25 basis point cut by the Federal Reserve on Nov. 7.
Following the US presidential election results on Nov. 6, a substantial $9.3 billion worth of ERC-20 stablecoins were deposited into cryptocurrency exchanges, according to data from market intelligence firm CryptoQuant.
“This marks the second largest influx of ERC-20 stablecoins since their inception,” CryptoQuant explained in a Nov. 7 post on X.
