Analyst: Current Stablecoin Flows Into CEX Only Make Up 21% of Total Supply

Bitget News, crypto analyst Crypto Big Game Hunter tweeted that according to cryptoquant data, the current inflow of stablecoins into CEX is only 21% of the total supply, while the inflow of stablecoins into CEX in 2021 exceeds 50% of the total supply. With such a low percentage of stablecoins coming into CEX, in addition to a portion being used for on-chain activities, a significant portion is used for value storage and remittances. In the last two years a significant percentage of remittances from hyperinflationary countries like Venezuela, Argentina, Mexico, and Turkey have been made through stablecoins. So while the current supply of stablecoins is still growing, not that many are actually flowing into the crypto market, which partly explains why the crypto market's uptrend has been slow to get off the ground.