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USDC Posts $58.44 Million Net Selling Balance in Crypto Trading

Ether and Bitcoin also had negative balances, while Pepe, Tether and First Digital USD were positive in CryptoMeter’s Oct. 19 snapshot.

Updated 2 min read
A trader checks stablecoin trading pairs on a phone inside a Seoul digital-asset brokerage. / EconoTimes.ai
A trader checks stablecoin trading pairs on a phone inside a Seoul digital-asset brokerage. / EconoTimes.ai

USDC had CryptoMeter’s largest negative balance on Oct. 19, at $58.44 million, a measure of buying and selling across trading pairs rather than money leaving the crypto market.

CryptoMeter’s 24-hour table recorded $1.81 billion on the buying side for USDC and $1.87 billion on the selling side. Its net-flow figures compare the U.S. dollar value of those two sides of trading; they do not establish withdrawals or redemptions.

Ether (ETH) had a $55.28 million negative balance, with $757.06 million in buying and $812.34 million in selling. Bitcoin (BTC) followed at negative $43.52 million. Its buying and selling figures were $1.92 billion and $1.97 billion, respectively.

XRP recorded a $21.46 million negative balance, and Zcash (ZEC) registered $19.58 million. Solana (SOL) was closer to even, with selling exceeding buying by $40,780.

On the positive side, Pepe (PEPE) led the table with a $5.67 million net balance. Tether (USDT) posted $4.43 million, while First Digital USD (FDUSD) recorded $4.36 million. Tether’s buying figure was $104.23 million, against $99.79 million in selling. The two dollar-pegged tokens thus appeared on the opposite side of the table from USDC.

An EconoTimes report on the Oct. 18 snapshot placed Bitcoin first for inflows at $100.42 million and Ether first for outflows at $8.92 million. That earlier report ranked buying and selling flows separately, whereas the Oct. 19 rankings reflect the net balance between them.

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