The dynamics of moving cryptocurrencies between private wallets and exchange wallets indicate investor uncertainty about the market’s future developments in digital assets. CoinDesk reports, citing a Bank of America (BofA) report.<\/p>\n
According to analysts, tightening of policy by the \u0424\u0420\u0421<\/span> and macroeconomic factors will curb the growth of cryptocurrencies over the next six months. However, BofA stressed that this will not mark the start of a new ‘crypto winter’, given that the level of user adoption of digital assets and developer activity has risen substantially.<\/p>\n Analysts noted that the observed outflow of Bitcoin from exchanges points to a depletion of seller momentum. At the same time, inflows of Ethereum to exchange addresses may signal potential pressure on the price of the second-largest cryptocurrency, according to BofA.<\/p>\n According to the report, inflows of stablecoins onto exchanges have weakened for the second consecutive week. For the past week, the figure declined by 99% versus the previous seven-day period. This suggests that investors are not rushing to make decisions in the current conditions.<\/p>\n The bank added that the digital-asset market will struggle to exit its current price range until fears of a possible recession are laid to rest.<\/p>\n According to Glassnode data, in the past week exchange balances of Bitcoin rose by $83.9 million, Ethereum by $362.5 million, and USDT by $261.2 million.<\/p>\n \ud83d\udea8 Weekly On-Chain Exchange Flow \ud83d\udea8#Bitcoin<\/a> $BTC<\/a> \u2014 glassnode alerts (@glassnodealerts) February 28, 2022<\/a><\/p><\/blockquote>\n \n
\u27a1\ufe0f $7.8B in
\u2b05\ufe0f $7.7B out
\ud83d\udcc8 Net flow: +$83.9M#Ethereum<\/a> $ETH<\/a>
\u27a1\ufe0f $3.8B in
\u2b05\ufe0f $3.4B out
\ud83d\udcc8 Net flow: +$362.5M#Tether<\/a> (ERC20) $USDT<\/a>
\u27a1\ufe0f $4.1B in
\u2b05\ufe0f $4.4B out
\ud83d\udcc9 Net flow: -$261.2Mhttps:\/\/t.co\/dk2HbGwhVw<\/a><\/p>\n