CryptoQuant: Altcoin inflows to Binance nearly quadruple ahead of CLARITY Act vote and FOMC
- —7-day average of incoming altcoin transactions on Binance is 31,800 versus 8,300 in July
- —On Coinbase the metric rose from 2,200 to 4,700, and on Bybit to 2,700
- —Altcoin market capitalization grew by more than $136 billion
- —The market prices a 92% probability of a Fed rate hike on September 17
Why it matters: The rise in altcoin inflows to exchanges may signal seller pressure ahead of the CLARITY Act vote and the Fed decision.
Source: PANews