Stablecoin Flows to Crypto Exchanges Bode Well for Market Recovery Bank of America

Stablecoin exchange inflows are up, which could mean the crypto market is headed for an eventual recovery, say researchers for Bank of America. In a Friday report, analysts Alkesh Shah and Andrew Moss said that despite digital assets behaving like “risk assets,” stablecoins. Stablecoins are cryptocurrencies which are backed by fiat currencies, like dollars, or other real-world assets. They are used by people to quickly enter and exit positions in other coins or tokens when trading without the need to convert to a hard currency, such as U.S. dollars. Bank of America’s report added that “three consecutive weeks of [stablecoin] inflows indicate that investors.