Key Insights From Today’s On-Chain Behavior
- On-chain activity remains quiet today, following a similar trend seen in the past few weeks.
- Although, outflows of ETH and stablecoins from exchanges have remained stable in recent days.
- ETH outflows from exchanges seem to have been exhausted in the past few days and the total ETH balance on deals is starting to stabilize (in the short term) at approximately ~25.5m ETH across all platforms.
- Similarly, Stablecoin outflows from exchanges also seem to have plateaued at ~33.5b in balance across all exchanges in the shorter timeframe after a sustained period of outflows starting in October 2022.
- Coinbase registered $148m net stablecoin...