Tether (USDT) Inflows to Exchanges Surged to $2.7B During Recent BTC Price Drop to $90, Analytics Firm Says

The unusually high capital inflows likely stemmed from margin calls and bargain hunting.

Feb 10, 2025, 8:23 a.m. UTC

What to know:

A week ago, bitcoin (BTC) crashed to nearly $91,000 as trade war fears gripped the market. On the same day, centralized exchanges registered a net inflow of $2.72 billion in tether (USDT), the world's largest dollar-pegged cryptocurrency by market value, according to analytics firm IntoTheBlock.

"The market's substantial downturn triggered unusual capital flows. Notably, USDT netflows into exchanges reached the third-highest level ever recorded, exceeding $2.72 billion (on Ethereum alone)," IntoTheBlock said in the weekly newsletter.

"This surge likely resulted from a combination of factors: traders depositing additional collateral to manage margin calls and prevent liquidations on underwater positions, alongside significant "buy-the-dip" activity, particularly focused on BTC," the firm added.

Bitcoin has since steaded between $95,000 and $100,000, CoinDesk data show. Tether and its regulated rival, USDC, are widely used to fund crypto purchases.

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