According to Odaily, blockchain data platform Santiment reports that Tether (USDT) on-chain activity has reached a six-month high, with over 143,000 wallets conducting transfers on March 11. Analysts suggest this surge may indicate that traders are preparing for a market rebound. Vincent Liu, Chief Investment Officer at Kronos Research, noted that traders often accumulate USDT during market downturns to seek buying opportunities, thereby increasing buying pressure and potentially driving prices up. Additionally, the inflation rate dropped to 2.8% in February, which could create a more favorable environment for the cryptocurrency market. Read More (Note: This news is imported from Binance news)
Tether’s On-Chain Activity Reaches Six-Month High, Indicating Potential Market Rebound (imported from Binance News)
According to Odaily, blockchain data platform Santiment reports that Tether (USDT) on-chain activity has reached a six-month high, with over 143,000 wallets conducting transfers on March 11. Analysts suggest this surge may indicate that traders are preparing for a market rebound. Vincent Liu, Chief Investment Officer at Kronos Research, noted that traders often accumulate USDT during market downturns to seek buying opportunities, thereby increasing buying pressure and potentially driving prices up. Additionally, the inflation rate dropped to 2.8% in February, which could create a more favorable environment for the cryptocurrency market.
