Well, well, well, folks, seems like the crypto market is having a good ol’ time. Major assets are climbing higher than a cat up a tree, but guess what? No one’s rushing to cash in. That’s right—investors are acting like they’ve got all the time in the world, just holding their coins like a squirrel with its acorns. 😏
According to CryptoQuant (who, by the way, keeps an eye on things like a hawk with glasses), the exchanges are seeing fewer coins being tossed around than a high-stakes poker game at a retirement home. Bitcoin (BTC), Ether (ETH), and Ripple’s XRP are all seeing a drop in deposits. Prices are soaring, but investors? They’re just sittin’ pretty, not selling a thing. Can you imagine?🙄
Low Sellin’, High Holdin’
On May 22, BTC hit a record high of $111,861. Back in November 2024, when Bitcoin flirted with $100,000, there were 121,000 bitcoins flowing into exchanges every day. But now? Ha! Just 22,000 a day. Looks like the hodlers are on a vacation and ain’t coming back anytime soon. 😂
Normally, when you see more coins coming into exchanges, it’s like a warning bell—selling pressure is up! But right now, those bells are as quiet as a mouse on a Sunday morning. And the number of deposits? It’s down from 98,000 in November to a meager 29,000 today. Seems like these investors don’t want to sell, even though prices are hitting the roof. 🏠
ETH isn’t doing much different. Once upon a time in November, there were 3.2 million ETH a day flooding into exchanges. Now? A mere 1 million. Individual deposits are also slumping, falling from a peak of 135,000 ETH in April to just 15,000 today. Talk about a party with no one showing up! 🎉
And don’t get me started on XRP. It’s like Ripple’s legal drama with the SEC made everyone suddenly forget how to deposit. Daily XRP deposits have plummeted from 4 billion in March to 46 million. A drop of 99.5%! I mean, if you were in charge of the Ripple marketing team, you might be feeling a bit embarrassed. 😬
The drop in BTC, ETH, and XRP deposits? That’s actually a good thing. It means investors are feeling pretty chipper about the whole market and aren’t eager to bail. Who knew that silence could sound so sweet? 🎶
USDT Taking the Spotlight
Meanwhile, Tether (USDT) is all the rage. While ETH and XRP are sitting quietly, USDT reserves on exchanges have hit a staggering all-time high of $46.9 billion. That’s a lot of digital paper just sitting there, waiting for its moment to shine. 💰
“The growth in stablecoin balances signals increasing market liquidity, which is typically supportive for digital asset prices,” said CryptoQuant, like they’re quoting a fortune cookie. 🤷♂️
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2025-05-25 14:41