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USDT transaction volume drops to monthly low, but what’s the Chinese connection
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The Cryptocurrency market just concluded an overall bearish week marking the second retracement so far this year.
Observing stablecoins may provide insights into how and where liquidity flows are headed. USDT, one of the biggest stablecoins by market cap and volume demonstrates some interesting observations.
According to the latest Glassnode data, USDT dropped to its lowest monthly transaction volume levels in the last 24 hours.
The last time the transaction volume was this low was at the beginning of the second week of January. This was right around the same time that the crypto market started experiencing a surge in volatility.
<p lang=«en» dir=«ltr» xml:lang=«en»> Read more on ambcrypto.comAbout this in other media
KuCoin leads $10M funding for Chinese yuan stablecoin issuer cointelegraph.com /1 year ago
Decoding the latest USDC update- Are USDT and DAI safer bets ambcrypto.com /1 year ago
Bitcoin drops below $20,000, set for worst week since FTX crash in November business-standard.com /1 year ago
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