Day 22/100 — Learning On-Chain Analysis From Zero. 🙌
Yesterday, we learned about fuel arriving on exchanges. Today, we’re looking at the opposite: stablecoin outflows. 👀
When USDT or USDC leaves an exchange, the fuel is moving out. But here’s the catch: it doesn’t automatically mean someone bought crypto. The funds could be moving to a private wallet or another exchange.
Less stablecoin sitting on exchanges means less immediately available buying power there. Not a crash signal. Just a change in the available fuel. 🫡
📊 A recent snapshot from mid-October 2026:
Binance stablecoin reserves reportedly fell to around $41.6B, a one-year low, with roughly $6.3B leaving since April. Other major exchanges also saw outflows, while aggregate stablecoin supply edged lower over the past 30 days.
The takeaway? The fuel may be thinner than before, but that alone doesn't tell us which way the market moves next.
🔎 Today's homework:
Open Arkham and search USDT or USDC. Find a stablecoin transfer leaving an exchange and screenshot it.
Then comment:
⛽ FUEL SPENT — if you find evidence it was used to buy something.
🔄 JUST MOVING — if it appears to be a transfer elsewhere.
If you can’t establish the destination or purpose, don’t guess. That's part of learning on-chain analysis.
Tomorrow, Day 23: The Fuel Pile — How Much Stablecoin Is Still Sitting on Exchanges?
78 days left. New here? Start today and catch up at your own pace. 👀🤝
Yesterday, we learned about fuel arriving on exchanges. Today, we’re looking at the opposite: stablecoin outflows. 👀
When USDT or USDC leaves an exchange, the fuel is moving out. But here’s the catch: it doesn’t automatically mean someone bought crypto. The funds could be moving to a private wallet or another exchange.
Less stablecoin sitting on exchanges means less immediately available buying power there. Not a crash signal. Just a change in the available fuel. 🫡
📊 A recent snapshot from mid-October 2026:
Binance stablecoin reserves reportedly fell to around $41.6B, a one-year low, with roughly $6.3B leaving since April. Other major exchanges also saw outflows, while aggregate stablecoin supply edged lower over the past 30 days.
The takeaway? The fuel may be thinner than before, but that alone doesn't tell us which way the market moves next.
🔎 Today's homework:
Open Arkham and search USDT or USDC. Find a stablecoin transfer leaving an exchange and screenshot it.
Then comment:
⛽ FUEL SPENT — if you find evidence it was used to buy something.
🔄 JUST MOVING — if it appears to be a transfer elsewhere.
If you can’t establish the destination or purpose, don’t guess. That's part of learning on-chain analysis.
Tomorrow, Day 23: The Fuel Pile — How Much Stablecoin Is Still Sitting on Exchanges?
78 days left. New here? Start today and catch up at your own pace. 👀🤝
