The number of stablecoins transferred to exchanges reached a record level

After Ether (ETH) surpassed $ 4,000 on Monday and many other altcoins broke records, data shows that buyer interest is still high.

Investors preparing to flock to crypto

Bitcoin (BTC), which has been consolidating for some time, shows signs that it is preparing to break the $ 60,000 resistance.

Although some altcoins, especially Dogecoin (DOGE), have slowed down, investors’ interest in cryptocurrencies has not waned. Analyst Lex Moskovski stated that the number of stablecoins transferred to the stock markets also confirms this situation.

The number of stablecoins transferred to exchanges has been steadily increasing for several months. Although there are temporary decreases in this number at certain periods, the overall trend is quite clear.

The increase in the amount of stablecoins on exchanges indicates that investors are preparing to buy crypto in the short term.

Bitcoin Price Index: How much is 1 Bitcoin in TL? (BTC TL)

The exchanges’ stablecoin reserves reached an all-time high of $ 11.5 billion in recent days and still stands at over $ 11 billion as of the time of translation release.

Moskovski, on the subject made a comment as follows:

“I don’t think this rally will be over anytime soon if there is no black swan incident.”

Support is at $ 52k

According to Cointelegraph’s report, the order books of the exchanges show that the number of orders above $ 50,000 is relatively low.

On the other hand, according to the data, Bitcoin whales took significant positions between 54-58 thousand dollars.

Bitcoin whale clusters. Source: Whalemap / Twitter

Data of the monitoring source Whalemapreveals that the largest whale cluster was formed at $ 58,000 and 120,000 BTC.

The fact that cryptocurrency investors continue to transfer stablecoins to exchanges also indicates that the bull market for most cryptocurrencies will not end soon.

“Whaling clusters, network value / transaction rate, on-chain volume profile and other data show support will be at $ 52,000,” the Whalemap team told Cointelegraph.

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