What USDT dominance reveals about the health of the crypto market

USDT dominance can reveal a lot about the mood of the market. This is largely because USDT is the largest stablecoin, thus its activity and on-chain flows may reflect on the state of liquidity in the market.For example, while September was mostly bullish for cryptocurrencies, USDT.D experienced a sizable retracement.

If it dips below the 50% RSI level, then this will be considered confirmation of further decline. In other words, liquidity will flow in favor of Bitcoin and altcoins. However, it has since bounced back, with the number of active addresses growing from 16,360 addresses to over 18,400 addresses in the last three days.Addresses with zero balances rose from 19,860 on the 6th of October to 22,530 addresses on the 9th of October.

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USDT Surge: Is It Confidence or Market Hedging?The recent surge in USDT and USDC market cap following Bitcoin's price drop has sparked debate about investor sentiment. While some see it as a sign of confidence in a price recovery, others suggest it reflects liquidity demand or market hedging.
Fuente: CryptoAmb - 🏆 22. / 68 Leer más »