Leading crypto analysis firm Santiment, the largest Tether He says his whales have been accumulating stablecoin USDT over the past six months.
Centiment, top 100 USDT It notes that address added $1.67 billion worth of top stablecoins by market cap in a six-month period, indicating an increase in purchasing power of approximately 10%.
The analysis firm predicts that if USDT whales continue to increase their purchasing power, BitcoinHe says that the chances of (BTC) passing $40,000 may increase.
BTC is trading at $36,933 at the time of writing this news.
Santiment also states that 3.54% of USDT supply and 0.72% of USDC supply moved to exchanges between August 19 and October 16. According to the analysis firm, another round of USDT and USDC investments into exchanges could be expected before the end of the year. crypto- It could herald further rallies for the markets.
“These transfers spearheaded the crypto-wide rally from late October to mid-November. “The return of USDT and USDC to exchanges after a cool-down will be crucial to see market values continue to rise in the last five weeks of 2023.”
Koinfinans.com As we reported, USDC is the second largest stablecoin by market cap.
Looking at the sentiment surrounding crypto markets, the analysis firm says traders are starting to show signs of fear following a widespread pullback in altcoin markets.
“The sense of fear is growing after two-thirds of the top 100 altcoins pulled back in the past week. Especially in the past hours, many altcoins have lost a large portion of their November profits. “If FUD (fear, uncertainty and doubt) comes to the fore, dip buying opportunities will be worth exploring.”
