[News Brief] Apr 22, morning | CryptoQuant: 'Surge in Exchange Deposits Could Increase Cryptocurrency Market Volatility'

CryptoQuant: 'Surge in Exchange Deposits Could Increase Cryptocurrency Market Volatility'

CryptoQuant said that a sharp increase in exchange deposits of Bitcoin, Ethereum, and altcoins could expand volatility in the cryptocurrency market.

According to The Block, CryptoQuant Head of Research Julio Moreno said in a report that Bitcoin exchange inflows rose to about 49,000 BTC on June 30. He explained that there have been only four instances this year in which single-day inflows came close to 50,000 BTC.

CryptoQuant added that in the past, sharp increases in exchange inflows of this scale were followed by larger price volatility and directional moves. It also said that exchange deposits of Ethereum and altcoins have continued to rise, increasing pressure on the market.

Anonymous wallet transfers 2,315 BTC to OKX

According to Whale Alert, an anonymous wallet transferred 2,315 BTC to OKX.

The transfer was worth about $144.74 million. Exchange inflows are generally interpreted as a sign of potential selling pressure, though whether an actual sale will take place has not been confirmed.

Bhutan-linked wallet deposits 700 BTC to Binance

A wallet linked to the Kingdom of Bhutan deposited 700 BTC to Binance, according to Odaily, citing Onchain Lens.

The deposit was worth about $43.75 million. Large BTC transfers to exchanges can be interpreted by the market as a possible sign of selling.

Revolut announces plan to end USDT support

European fintech company Revolut notified users of its plan to discontinue support for USDT.

According to Wu Blockchain, Revolut users can buy USDT until July 6. New USDT deposits will be suspended starting July 30.

Users can sell their USDT or withdraw it to an external wallet until Aug. 31. After that, any remaining USDT balance in accounts will be converted into fiat currency based on the exchange rate at that time.

Bitdeer sells all 223.1 BTC mined over one week

Bitdeer said it sold all 223.1 BTC that it mined during the week ending July 3.

According to Odaily, Bitdeer said on X that its net Bitcoin increase during the same period was zero and that it currently continues to hold zero Bitcoin.

Public companies net-bought 166,984 BTC so far this year

According to Odaily, citing BitcoinTreasuries data, public companies have net-bought 166,984 BTC so far this year.

This is about twice the 81,153 BTC mined during the same period. The average daily BTC purchase volume by public companies was calculated at 912 BTC.

Morpho raises $175 million led by Paradigm and a16z Crypto

The Morpho Association raised $175 million in a funding round led by Paradigm, a16z Crypto, and Ribbit Capital, according to Wu Blockchain.

Strategic investors including Apollo Funds, Circle Ventures, VanEck, Ledger, and Cathay Innovation also participated in the round.

Morpho said it is building an open credit network connecting traditional finance and on-chain markets.

Visa, M-Pesa, and Onafriq launch dollar-pegged stablecoin payments pilot in the Democratic Republic of the Congo

Visa, M-Pesa, and Onafriq have launched a pilot project in the Democratic Republic of the Congo using dollar-pegged stablecoins for cross-border mobile transaction settlements, according to Odaily.

The pilot will cover overseas mobile wallet top-ups, international commerce payments, and remittances. The World Bank estimates that cross-border remittance costs in Sub-Saharan Africa average about 8% of the amount sent.

Visa previously worked with African cryptocurrency exchange Yellow Card to explore stablecoin treasury management and international payments use cases.

CME average daily crypto contract volume in June rises 76% year over year

Odaily reported on July 4 that CME's average daily trading volume for crypto contracts in June rose 76% from a year earlier, with notional value exceeding $10 billion.

The IMF said the future of tokenized financial systems will depend on policy choices and that three types of payment assets, including stablecoins, could be used together.

Separately, Spotify requested that Kalshi and Polymarket remove its brand markings, while Korean companies raised concerns that they had not participated in discussions related to the OUSD Alliance member list and were unaware of any roles attributed to them.

Moonbeam launches new protocol; GLMR to migrate 1:1 to Base

According to Odaily, Polkadot parachain Moonbeam announced the launch of a new Moonbeam protocol and said it will transition into a decentralized AI agent communication and payments network for the on-chain economy.

GLMR tokens will migrate to Base at a 1:1 ratio and become native ERC-20 tokens. Cross-chain migration has already begun, and the deadline is July 31, 2026.

Moonbeam said users holding GLMR on centralized exchanges do not need to take any separate action.