Bitcoin draws $87.83 million as BNB leads token outflows

Bitcoin led cryptocurrency inflows with $87.83 million, while BNB recorded $9.09 million in outflows.

Bitcoin absorbed $87.83 million, the largest inflow among major cryptocurrencies.

Data compiled on Oct. 16 showed $26.70 million in U.S. dollars and $4.85 million in euros flowing into the cryptocurrency market.

About $140.42 million in USDT and $12.43 million in USDC was distributed across cryptocurrencies.

Major inflows included $87.83 million for bitcoin (BTC), $25.36 million for solana (SOL) and $18.28 million for ether (ETH). Zcash (ZEC) followed with $8.73 million, TSLAB with $7.10 million and tron (TRX) with $6.63 million.

On the outflow side, BNB posted the largest withdrawal at $9.09 million.

Other outflows included $5.93 million from NEAR, $5.86 million from SNDKB, $4.65 million from ZEC, $4.62 million from XRP and $2.66 million from ETH.

Some of the funds moved into stablecoins, including $35.22 million into USDT, $3.19 million into USDC and $2.66 million into USD1. Meanwhile, $3.88 million in BFUSD was distributed across cryptocurrencies.

Cash conversion flows included $7.22 million into U.S. dollars, $5.43 million into South Korean won and $3.36 million into Turkish lira.

This article is based on market data and flow analysis and does not constitute investment advice regarding any asset.