Yesterday I came across a pretty cool graph displaying into which coins/tokens the fiat money flows, which in this case can be a gateway or Tether as well, in the last 24 hours. The graph below can be found on CoinLib.io:
The data is currently based on:
- 4338 Cryptocurrencies
- 156 Fiat currencies
- 168 Exchanges
- 12961 Markets
As you can see, the most inflow comes from the Japanese Yen, the US Dollar and Tether (basically also USD). What I find surprising is the relative small Euro inflow, but I guess that has a lot to do with euro fiat gateways and euro pairs are absent on a lot of exchanges.
Next to that, although EOS is the third biggest ‘stop’, there is practically no fiat money directly flowing into EOS, except for some South Korean Won and Tether. So I guess this means there are no USD/EOS, EUR/EOS or YEN/EOS pairs yet. For exchanges it could be interesting to be the first one to add one or two of those.
Something else that surprises me is the limited flow from Ethereum into other crypto though. Not sure why that is. Maybe it is just a limit set on the graph itself.
Keep in mind that the graph does not display the outflows (a lot of short term trading takes place where a position in Bitcoin is bought and sold within minutes).
Also, you can where the fiat money that went into for instance Bitcoin went next:
When looking at crypto to crypto and where the Bitcoins flow into, I don’t see many surprises. It is the usual suspects within the top 30 and some projects that seem to have had some momentum in the last days.
I will probably take a look at this tool every once in a while in the future :-)
Anything that surprises you? Let me know!
Have a good one!
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Disclaimer: I am not a financial advisor, trader or developer. I am just a blockchain & cryptocurrencies enthusiast. Make sure you do your own research, draw your own conclusions and do not invest any money that you cannot afford to lose.