Tether (USDT) has continued to move into exchanges recently. Here’s why this can be a positive development for Bitcoin.
Tether Supply On Exchanges Is Now Highest In 7 Months
According to data from the on-chain analytics firm Santiment, $9.99 billion worth of USDT is now on exchanges. The indicator of relevance here is the “supply on exchanges,” which keeps track of the total amount of a cryptocurrency being stored in all centralized exchanges’ wallets.
The interpretation of this metric can differ depending on the type of asset that’s being discussed. In the case of Bitcoin, for example, the exchange reserve may be considered a measure of the potential selling pressure, as one of the reasons investors may deposit the coin is for selling-related purposes.
Thus, the cryptocurrency’s supply on exchanges going up could be a sign that selling is increasing in the sector, and hence, the asset’s price may be heading towards a bearish outcome.
In the context of the current discuss
We współpracy z: https://www.newsbtc.com/stablecoin/tether-flow-exchanges-why-bullish-bitcoin/
