Analysis: More than 1.07 billion USDC flowed into CEX yesterday. A similar amount of funds also flowed in after the FTX crash.

PANews reported on February 4 that according to a report released by Cryptoquant analyst Maartunn early this morning (UTC+8), more than 1.07 billion USDC flowed into centralized trading platforms yesterday, of which about US$875 million flowed into Coinbase. The transaction characteristics are highly consistent with the behavior of institutional investors.

Historical data shows that an increase in USDC reserves on exchanges often indicates a positive trend in Bitcoin prices. It is worth noting that a similar amount of capital inflows occurred after the FTX crash in December 2022, which ultimately coincided with the market bottoming out. Analysts also reminded that USDC inflows may also be used for pledge, mortgage or other purposes.