$1.69 Billion of Stablecoins Withdrawn From Crypto Derivative Exchanges

The crypto market has experienced increased volatility this month, with BTC slashing half of its gains amidst a broader market selloff. Other top crypto assets such as ETH and ADA also struggled to hold on to recent gains, leaving investors debating whether the bulls can pull off an upset and propel prices higher. The recent bloodbath in the crypto markets resulted in $1.69B of stablecoins being withdrawn from derivative exchanges, as per data from CryptoQuant. Lex Moskovski, the Chief Investment…