On September 10, analysts on CryptoQuant Yonsei_dent disclosed that since August, the exchange's USDT stablecoin holdings have increased rapidly, but from March to July, USDT did not fluctuate much due to price fluctuations.
When stablecoins flow into exchanges and increase their holdings, they are generally understood as funds waiting to be bought, which will have a positive impact on the price. However, the increase in holdings does not necessarily mean that the price will rise. Because it is "backup funds", it may not be bought due to risk aversion if the market is uncertain or the global economy is difficult.
Analysts: Since August, the exchange's USDT holdings have increased rapidly
2024-09-10 07:39:08
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