USDT Netflow Hits Record $1.8B, Fuels Crypto Market Surge
The post USDT Netflow Hits Record $1.8B, Fuels Crypto Market Surge appeared on BitcoinEthereumNews.com.
The crypto market is witnessing a surge in buying power as USDT netflow hits an unprecedented $1.8 billion. This influx of stablecoins typically signals increased market activity and often drives demand for Bitcoin and other cryptocurrencies. USDT netflow just hit a record $1.8B, which means there’s a lot of buying power entering the market right now. This kind of stablecoin inflow usually leads to heightened activity and could drive demand for #Bitcoin and other cryptos. Let’s see how this capital gets deployed!… pic.twitter.com/u0bJQ6iQO0 — Kyledoops (@kyledoops) November 20, 2024 Tether, the leading stablecoin issuer, has been at the center of this momentum. Since November 8, Tether has minted an impressive 9 billion USDT, including a recent 1 billion USDT issuance. This latest minting coincided with Bitcoin reaching a new all-time high, underscoring the significant impact of stablecoin inflows on market dynamics. Tether minted 1B $USDT again 6 hours ago, sending $BTC to a new #ATH of $95,000! Since Nov 8, #Tether has minted 9B #USDT!https://t.co/Ptsy2BsPoE pic.twitter.com/nC3473T6Az — Lookonchain (@lookonchain) November 21, 2024 Stablecoin Transaction Trends Across Chains Analyzing stablecoin transaction sizes across top blockchains reveals Ethereum’s dominance, boasting an average transaction size of $75,500. Following closely are Base ($16,400), Avalanche ($10,500), and Tron ($7,000), all of which maintain strong positions in stablecoin activity. Top 10 Сhains by Stablecoins Transaction Size@ethereum leads with an average stablecoin transaction size of $75.5K. @base ($16.4K), @avax ($10.5K), and @trondao ($7.0K) also maintain competitive positions. Notably, @ton_blockchain has emerged as a strong contender in this… pic.twitter.com/yWUmsfwTZ2 — CryptoRank.io (@CryptoRank_io) November 21, 2024 An emerging player, TON Blockchain, is making waves with an average transaction size of $1,600, reflecting its growing adoption and competitive potential. Market Implications The record-breaking USDT netflow indicates a wave of liquidity entering the crypto market, creating a favorable environment for price…
Filed under: News - @ November 22, 2024 4:27 am