Ethereum Outflow Hits $53.66M as ZEC Leads Inflows

Ethereum outflow reached $53.66 million as Zcash emerged as the top inflow recipient at $21 million. According to CryptoMeter's 2:30 PM KST data as of May 16, over the past five hours, fiat and cash-like funds totaling $12.88 million in USD, $299,000 in BRL, and $164,000 in EUR entered the cryptocurrency market.

Stablecoins saw $48.06 million in USDT and $106,000 in FDUSD distributed across various cryptocurrencies. Major inflow tokens included Zcash (ZEC) at $21 million, Bitcoin (BTC) at $17.07 million, and Wrapped Bitcoin (WBTC) at $8.92 million. Solana (SOL) followed with $378,000, Tron (TRX) with $319,000, and Ripple (XRP) with $245,000.

Over the same period, Ethereum (ETH) led outflows at $53.66 million, followed by U at $16.24 million, Bitcoin (BTC) at $15.44 million, Solana (SOL) at $465,000, and Ripple (XRP) at $233,000. Some outflow funds consolidated into stablecoins: $395,000 in USDT, $69,000 in USD1, and $47,000 in FDUSD. Meanwhile, $419,000 in USDC was distributed across multiple cryptocurrencies.

Fiat outflows totaled $57.63 million in USD and $304,000 in KRW, indicating cashing out trends.