Blockchain analytics firm Santiment says that crypto exchanges saw their largest hourly inflow of stablecoins this year amid the recent correction and consolidation in the markets.

Santiment wrote, “The largest 1-hour Tether inflow to exchanges of the entire year occurred Thursday. At 8 am UTC, over 771.6 million USDT was transferred to exchanges. Then, just 6 hours later, 454 million USDC was then transferred to exchanges, a 4-month high of its own.”

By Amy Liu