USDT exchange inflows hit a record $1.8B, signaling increased buying power and potential bullish momentum for the crypto market.
USDT exchange inflows soar to over $1.8 billion, marking the second time within six days. This surge hints at bullish moves for Bitcoin.This massive inflow has spurred discussions on its implications for market liquidity, buying power, and the potential ripple effect onThis inflow signals an increase in capital moving into exchanges, likely driven by traders positioning themselves for potential market movements.
This dynamic could pave the way for heightened demand for Bitcoin and other digital assets, particularly if sentiment remains bullish.The exchange reserve chart showcases a steady climb in USDT balances on exchanges, hitting an all-time high of $28.8 billion. This sharp increase in reserves aligns with the massive netflows.An expanding exchange reserve implies traders and institutions are actively preparing to capitalize on market opportunities.
Bitcoin’s price surge to $88,000 coincides with these developments, underlining the correlation between stablecoin activity and market trends.The Stablecoin Supply Ratio adds another layer of insight. At a current value of 10.32, the SSR shows that the purchasing power of stablecoins relative to Bitcoin remains elevated.With a large pool of USDT on exchanges and a favorable SSR, the conditions appear optimal for further upward movements in the cryptocurrency market.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin’s weekend prediction – Keep an eye on USDT dominance!USDT dominance has hit a local low, nearing a key support line. What happens next will decide BTC's weekend moves...
Read more »
Tether’s $5.58B Bitcoin reserves: A move to strengthen USDT?Tether, the issuer of the popular stablecoin USDT, has significantly strengthened its reserves by adding over 82,000 Bitcoin [BTC].
Read more »
USDT under fresh scrutiny: Impact on Bitcoin’s final Uptober weekUSDT stands at a crossroads. The investigation news triggered investor panic, yet there is a long road ahead.
Read more »
Bitcoin ETF inflows soar as price nears $90KBitcoin shatters records following Trump’s victory, with Bitcoin ETFs, MicroStrategy, and Coinbase reaching unprecedented highs.
Read more »
USDT’s popularity on Toncoin rises: Will this trigger a TON bounce?Over the last 30 days, USDT transactions on TON reached over 4.5 million, with transaction volumes exceeding $300 million.
Read more »
Aptos welcomes USDT: Could this drive TVL to the $1B milestone?Aptos embraces native USDT in its ecosystem which could lead to higher TVL. APT bulls show up at key level after last week's pullback.
Read more »