This chart presents a measure of the 30-day change in stablecoin buying power on exchanges. It considers the 30-day change in major stablecoin supplies on exchanges (USDT, USDC, BUSD, DAI, TUSD), and subtracts the USD denominated 30-day change in BTC and ETH flows.
Buying Power Net Position Change = 30-day Change in Stablecoins on Exchanges [USD] - (30-day Change in BTC + ETH on Exchanges [USD])
Positive values 🟢 and Uptrends indicate that a larger or increasing USD volume of stablecoins are flowing into exchanges relative to BTC + ETH over the last 30-days. It generally suggests there is more stablecoin denominated buying power available on exchanges relative to the two major assets.
Negative values 🔴 and Downtrends indicate that a there is less or declining USD volume of stablecoins flowing into exchanges relative to BTC + ETH over the last 30-days. It generally suggests there is less stablecoin denominated buying power available on exchanges relative to the two major assets.
The barcode displayed at the bottom of the chart 🟠will signal when the 30-day USD volume of BTC + ETH is positive (i.e. inflows are occurring).
Note that the exchange inflows/outflows of these stablecoins reflect only those issued on the Ethereum blockchain, and associated with the exchanges we monitor.
Transparency Notice regarding Exchange Metrics
Disclaimer: Exchange balances presented are derived from Glassnode’s comprehensive database of address labels, which are amassed through both officially published exchange information and proprietary clustering algorithms. While we strive to ensure the utmost accuracy in representing exchange balances, it is important to note that these figures might not always encapsulate the entirety of an exchange’s reserves, particularly when exchanges refrain from disclosing their official addresses. We urge users to exercise caution and discretion when utilizing these metrics. Glassnode shall not be held responsible for any discrepancies or potential inaccuracies.
Please read our Transparency Notice when using exchange data