USDT Balance on Cryptocurrency Exchanges Grows 146% to Record Highs
On October 12, Leon Waidmann, head of research at Onchain HQ, posted on the X platform that data shows USDT balances on major cryptocurrency exchanges grew 146% to $22.7 billion, a record high.
Waidmann noted that historically, this usually signals strong buying power coming to Bitcoin and the crypto market as a whole.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Current mainstream CEX and DEX funding rates indicate the market remains broadly bearish
The Crypto Fear Index rises to 28, escaping the "Extreme Fear" zone
Analyst: The current macro environment is similar to the pandemic period, and bitcoin still has room to rise
The Hyperliquid team wallet has unstaked 2.6 million HYPE and conducted small-scale selling and transfer tests.
Trending news
MoreCrypto prices
More
