A massive USDC inflow into Coinbase is raising hopes for fresh buying power entering the crypto market.
The strong USDC USDC $1.00 24h volatility: 0.1% Market cap: $74.61 B Vol. 24h: $6.29 B inflows into Coinbase, a leading centralized cryptocurrency exchange, triggered a market-wide buying spree.
According to data from CoinGlass, Coinbase saw a net inflow of 1.55 billion USDC, the second-largest stablecoin, over the past 24 hours.
On the other hand, most of the major crypto exchanges recorded USDC outflows. For instance, Binance registered a net outflow of 411.8 million USDC in the same timeframe, according to CoinGlass data.
Despite the USDC outflows, Binance still witnessed a net inflow of 145.5 million USDT USDT $1.00 24h volatility: 0.0% Market cap: $186.73 B Vol. 24h: $45.51 B .
Big stablecoin inflows usually mean that investors are preparing to purchase volatile assets like Bitcoin BTC $91 802 24h volatility: 1.4% Market cap: $1.83 T Vol. 24h: $24.78 B and altcoins. And since the amount of USDC entering Coinbase is huge, it could also be linked to whales and institutional players, not just small traders.
It’s important to note that some deposits might be for selling, hedging or just moving funds, so the inflow does not guarantee that the prices will go higher.
Bitcoin and Ethereum Accumulation
In addition to the stablecoin inflows into Coinbase and Binance, some investors have also been accumulating Bitcoin and Ethereum ETH $3 145 24h volatility: 1.8% Market cap: $379.48 B Vol. 24h: $12.32 B .
CoinGlass data shows that leading crypto exchanges recorded a net outflow of 3,957 BTC and 10,220 ETH (each worth $361.4 million and $309.7 million, respectively) over the past day.
The accumulation came as Bitcoin broke above $91,000, with a market cap of $1.82 trillion. Ethereum also surpassed the $3,000 mark with a market value of $365 billion.
According to a Coinspeaker report on Nov. 26, whale traders on the perpetuals exchange Hyperliquid opened roughly $100 million in long positions. In simple terms, the movement shows strong optimism for another bull run.
However, the overall market sentiment is still mixed, which could push the crypto assets’ prices either way.
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