stablecoin Its dominance has increased drastically in recent times, with circulation being affected as a result. Recently, stablecoin supply on exchanges has marked new highs. Traders continue to constantly transfer their stablecoins to exchanges. While some may believe that this is a bearish factor for Bitcoin and other altcoin prices, in fact, the crypto markets can recover from the downtrend and rise.
Stablecoin net flow exceeded $1 billion compared to on-chain platforms. On the other hand, stock markets bitcoin entry remained relatively low, indicating that traders have been accumulating and holding BTC for longer.
The increase in the stock’s balance reserve, the traders’ interest in Bitcoin and other altcoinIt shows that they are preparing to accumulate . This also shows that the demand and purchasing power of cryptocurrencies is increasing and prices may rise further soon. At the same time, exchanges were reminded that the inflow of Bitcoin was relatively low.
Also, in large quantities USDT It is possible to say that whales continue to accumulate as the addresses holding them increase. Collectively, the rise in the stablecoin’s dominance has boosted its reserve within the exchange. All signals point to a good uptrend that could intensify if the bulls play a major role.
You can follow the current price action here.