Tether Treasury transferred more than 66 million USDT to Binance in the past 48 hours
the continuously growing supply of Tether stablecoins may catalyze the next "Uptober" rebound (cryptocurrency slang, meaning October), as historically October is a bullish month for Bitcoin prices. From the flow of funds into Tether, a large portion has been sent to some of the largest centralized exchanges (CEX), indicating increasing buying pressure from investors. According to data from Arkham Intelligence, in the past 48 hours, the Tether treasury has sent over $66 million worth of stablecoins to Binance and over $20 million worth of USDT to Kraken exchange.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Uniswap Hits Record Volume Across Ethereum Layer-2 Networks
BItcoin Could Surpass $150,000 This Cycle, According to VanEck CEO
Bitcoin Price Drop Could Benefit the Market, Expert Says
Analyst Forecasts Bitcoin to Break $110K as Market Cycle Heats Up