Leading crypto analysis firm Santiment says the big whales are currently stablecoin He announced that they were charged with .
analysis company Tether It noted that the combined market cap of the six largest stablecoins, including (USDT), UDSC, Dai (DAI), BUSD, TrueUSD (TUSD), and Pax Dollar (PUSD), increased by $9.42 billion in just four months.
Additionally, the analysis firm explained the reason for the increase in the market values of stablecoins. The company states that this increase occurred when whales with more than $ 5 million in digital assets bought large amounts of stablecoins.
According to Santiment, whales currently hold more than half of the combined stablecoin supply.
The company is aware of the increase in stablecoin market values crypto- He emphasizes that it creates an upward effect for Additionally, he calls it a “necessary ingredient” for markets to witness further rallies.
Taking a closer look at USDT holders’ activities, Santiment says the third-largest crypto holders by market cap are sending their dollar-pegged digital assets to exchanges. According to Santiment, the influx of USDT into exchanges indicates that crypto markets are preparing for further rallies.
“While respective supplies of Bitcoin and Ethereum continue to exit exchanges following ETF (exchange-traded fund) approvals, an interesting development is that Tether has seen approximately 4% of its current supply return to exchanges within five weeks.”
At the time of writing this news, BTC is worth $43,439, up about 3% in the past day.