According to PeckShieldAlert, the threat actor responsible for stealing over $300 million from Coinbase users through bribery of customer support has swapped 8,697 ETH for 22 million DAI. Additionally, another address tied to this hack, receiving 9,081 ETH from THORChain, has exchanged those funds for 23 million DAI. These large-scale Ethereum-to-DAI swaps, totaling over $45 million, could create significant short-term selling pressure on ETH, potentially impacting liquidity and price volatility across major DeFi trading pairs. The rapid conversion of ETH to stablecoins following high-profile hacks is a key indicator for traders to monitor for further potential market disruptions. (Source: PeckShieldAlert on Twitter, May 22, 2025)

According to @cashramp on Twitter, the on- and off-ramp provider reported processing 210,000 payments and converting $2.2 million from fiat currencies to stablecoins. This significant volume signals growing mainstream adoption of stablecoins and highlights increasing liquidity in the crypto market. For traders, such activity suggests a strengthening fiat-to-crypto pipeline, potentially enabling smoother entry and exit strategies and impacting stablecoin price stability (Source: @cashramp on Twitter).