USDT on-chain activity hits a 6-month high, traders may be preparing to catch the bottom

Odaily Planet Daily News According to the blockchain data platform Santiment, the on-chain activity of Tether (USDT) has reached a 6-month high, with over 143,000 Wallets conducting transfers on March 11. Analysts believe this may indicate that traders are preparing for a market rebound. Vincent Liu, Chief Investment Officer of Kronos Research, pointed out that traders typically accumulate USDT when the market is down to look for buying opportunities, thereby increasing buying pressure and pushing prices up. In addition, the inflation rate fell to 2.8% in February, potentially creating a more favorable environment for the cryptocurrency market. (Cointelegraph)