The post Non-Empty USDC And USDT Wallets See 13.9% And 15.7% Spike, Why This Is Good For Crypto appeared on BitcoinEthereumNews.com.

Non-empty wallets for stablecoins such as Circle’s USDC and Tether’s USDT have been on the rise for a while now as crypto prices have recovered since the start of the year. This has come to a head as the non-empty wallets have grown double-digits in a very short time. While this could point to recent selling, it is also quite bullish for crypto going by historical performances. Non-Empty USDT And USDC Wallets Jump 13.9% According to the on-chain data tracking platform Santiment, there has been a significant shift in the number of crypto wallets that are holding stablecoins on their balances. This growth is mostly seen in stablecoins such as Tether’s USDT and Circle’s USDC. Related Reading As Santiment’s data shows, the total number of non-empty wallets holding USDC has risen 13.9% so far in 2024. Likewise, USDT wallets have also been on the rise, with a marked 15.7% increase in non-empty wallets in the same time period. The chart shows a steady increase in the number of these non-zero wallets as the price of Bitcoin had recovered, taking the whole crypto market along with it. The total among of USDT holders moved from around 4.5 million at the start of the year to 5.7 million at the time of the report. For USDC, this figure went from around 1.9 million to more than 2.15 million. In total, there are more than 7.85 million stablcoin wallets between the both of them. 💸 Concerned about another #crypto market retrace? You may be comforted by the fact that the amount of non-empty #stablecoin wallets are rising. In 2024, the amount of #USDCoin non-empty wallets has grown by +13.9%, and #Tether wallets have grown +15.7%. https://t.co/9K2y8UgOv9 pic.twitter.com/mxdkrgn36M — Santiment (@santimentfeed) May 23, 2024 Now, given the recent uptick in the number of non-zero…

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Filed under: News - @ May 23, 2024 10:18 pm