Crypto customers turned to DEXs, loaded up on USDC after Silicon Valley Financial institution crash

The collapse of Silicon Valley Financial institution noticed traders loading their baggage with (USDC), together with an exodus of funds from centralized exchanges (CEXs) to decentralized exchanges (DEXs).

Outflows from centralized exchanges typically spike when the markets are in turmoil, blockchain evaluation agency Chainalysis mentioned in a March 16 weblog submit, as customers are seemingly anxious about dropping entry to their funds when exchanges go down.

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