CryptoQuant, a well-known analytics firm, reported that exchanges Binance and Coinbase experienced an unprecedented surge in stablecoin inflows, totaling $9.3 billion following Donald Trump’s presidential victory. These inflows marked the most significant stablecoin movement since 2020. According to CryptoQuant, these deposits could spark a prolonged bullish trend.
As of November 6, Binance had collected approximately $4.3 billion in stablecoins, while Coinbase received about $3.4 billion. After these, both exchange companies stated that Ethereum was the leading network with ERC-20 stablecoin transfers. Analysts view the financial inflows as a positive sign for future upsides in the market.
Coinbase Sees Surge Amid Bitcoin ETF Inflows
Alongside stablecoin inflows, spot Bitcoin ETFs also saw record activity. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $1.11 billion of the $1.38 billion daily ETF inflows, helping push Bitcoin’s price closer to an all-time high of $77,000. BlackRock’s iShares Bitcoin Trust (IBIT) contributed $1.11 billion, representing 81% of overall ETF inflows.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $190 million in inflows, while the Ark 21 Shares Bitcoin ETF (ARKB) saw $17.6 million. No spot Bitcoin ETF registered outflows on November 7, indicating solid institutional interest. Cumulative ETF inflows have now reached $25.57 billion, highlighting sustained demand.
Trump’s victory is believed to have boosted Bitcoin’s price, reflecting his pro-crypto stance. Many anticipate regulatory improvements as Trump is expected to appoint crypto-friendly officials, reducing market ambiguity. Historically, Bitcoin has rallied post-U.S. presidential elections, with notable gains in 2012, 2016, and 2020.
Trump’s Victory Sparks Optimism for Bitcoin Bull Market
According to analysts, Trump’s victory portends a possible bitcoin bull market. QCP Capital’s investor letter expressed optimism that Bitcoin’s price momentum would likely continue, particularly given a favorable regulatory outlook in the run-up to 2025. This positive sentiment has spread throughout the crypto market.
The Coinbase Premium Index, which measures the price difference between Bitcoin on Coinbase and Binance, has moved to 0.06, the highest point since mid-September. Even though it later moved to 0.04, the index indicates the high interest, particularly by U.S. buyers, in the digital currency, which suggests that it could further surge to new buying volume highs.
Adding to this momentum, open interest on the Chicago Mercantile Exchange (CME) surged by $1.2 billion in a single day, the most significant increase ever recorded in a single day. This was the most significant daily increase in recent history. K33 Research Head Vetle Lunde noted that this jump confirms great interest from institutions, which might help strengthen the market as Bitcoin continues gathering momentum.
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