Billions in BTC, ETH, and XRP Sent to Exchanges After Trump Announcement
Following U.S. President Donald Trump's announcement of a crypto strategic reserve, significant inflows of XRP and Bitcoin were observed on exchanges:
- Hourly inflows of XRP reached 193 million, primarily from large holders executing transactions over 1 million XRP.
- Bitcoin inflows surged from 500-1,000 to 6,739 BTC within a day post-announcement.
- Ethereum (ETH) inflows hit nearly 300,000 in one hour.
Increased exchange inflows often indicate intentions to sell, as large holdings are typically stored offline. Analysts from CryptoQuant noted that cryptocurrency demand has been declining:
- Bitcoin's demand growth is in contraction for the first time since September 2024.
- Sustaining a rally in crypto prices may be difficult without renewed demand.
- Retail accumulation has decreased since early November 2024.
Apparent demand metrics show a balance between Bitcoin production and inventory changes.