Massive USD and USDT Inflows Drive Bitcoin and XRP Buying Frenzy

Over $600 million flowed into the global cryptocurrency market within a single day, primarily through USD and the stablecoin USDT, fueling buying pressure in Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH). USD inflows totaled $104.2 million, mostly directed toward BTC and ETH, while KRW and EUR-based funds were also channeled into BTC and various altcoins. USDT saw inflows exceeding $573 million, largely distributed to BTC, USDC, XRP, and FDUSD.

By asset, BTC recorded the largest inflow at $516.6 million, followed by XRP, ETH, ENA, and BNB. However, several altcoins, including SOL, XRP, SUI, and DOGE, experienced tens of millions of dollars in outflows. Notably, $78.5 million exited from SOL and $79.5 million from ETH, with much of the capital redirected to USDT and FDUSD.

Ultimately, net outflows converted into fiat currencies amounted to significant sums in KRW, USD, EUR, JPY, and BRL. KRW, in particular, was identified as a final outflow route for assets such as USDT, DOGE, and XRP, indicating that alongside global inflows, there was simultaneous profit-taking and currency conversion activity in certain assets.

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