Stalecoin Inflows Into Exchanges

The cryptocurrency market has endured multiple selloffs recently, leading to stablecoin inflows into exchanges dropping to the lowest level since October of last year. The market saw another massive pullback on June 21, which saw approximately $1 billion in crypto positions liquidated in 24 hours. The bloodbath led to BTC dipping below the $33K as about $572M worth of coins was liquidated. This market plunge has led to speculations that the crypto market could be headed into another bear market.…