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Traders could be prepping to buy as USDT activity hits 6-month high

Coin Telegraph LogoCoin Telegraph1d ago

Traders could be prepping to buy as USDT activity hits 6-month high - Coin Telegraph

Quick Summary:

Onchain activity for Tether has hit a sixth-month high, possibly indicating traders are gearing up to jump back into the market, according to analysts.  Data shared by the blockchain data platform Santiment in a March 12 X post shows Tether’s (USDT) onchain activity has been on the rise, peaking with over 143,000 wallets making transfers on March 11, the highest in six months.“When USDT & other stablecoin activity spikes during price drops, traders are preparing to buy.

Related: Bitcoin, crypto ‘dip buy hype’ is now at its highest level in 7 monthsSwyftx lead analyst Pav Hundal told Cointelegraph that a lot of leading market metrics, like M2, are trending to the upside, but he doesn’t expect a major bounce until the political economy loses its volatility.“Inflation metrics this week out of China and the US are helpful — but as long as this trade war kicks on, we should expect the market to lack conviction,” he said.“A lot of investors have stopped reacting to the news cycle and they’re just parking cash in Tether.

He speculates the uptick in USDT wallet activity likely reflects traders capitalizing on recent market volatility.“Possible causes include broader economic uncertainties, crypto-specific events like regulatory developments or post-election sentiment shifts, and Tether’s role as a stable haven, making it an ideal holding for investors preparing to deploy capital strategically,” Liu said.

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Article Details

Author / Journalist: Cointelegraph by Stephen Katte

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-13 @ 03:36:37 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 729 words

Reading Time: 5 minutes read

Sentences: 22 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26950268

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Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 1257 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

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Publisher ID: #11

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