The record monthly stablecoin inflows could put Bitcoin’s price on track to top the record $100,000 mark.
Stablecoin flows to cryptocurrency exchanges have reached a record monthly high, signaling increased investor interest in the crypto market. The surge could position Bitcoin to reach the $100,000 milestone before the end of November.
Stablecoin inflows to crypto exchanges hit a new monthly high of over $9.7 billion.
This could signal an uptick in crypto investor demand, according to Leon Waidmann, head of research at The Onchain Foundation, who stated in a Nov. 21 X post:
