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Exchange Inflows Spike As LFG Moves Bitcoin

The beneath is an excerpt from a current version of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets publication. To be among the many first to obtain these insights and different on-chain bitcoin market evaluation straight to your inbox, subscribe now.

LFG Exchange Inflows

As a results of this week’s chaos, exchanges had an estimated 52,333 of bitcoin inflows largely pushed by the depletion of the Luna Foundation Guard (LFG) reserve steadiness. This doesn’t change the bigger macro pattern of change outflows over the past two years, however it is the biggest each day influx of bitcoin to exchanges since November 2017 and the all-time highest USD worth of bitcoin moved. 

The Luna Foundation Guard was forced to send a majority of its holdings to exchanges as it tried to hold the dollar peg for its Terra stablecoin.


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