others
Tether (USDT) Movement Signals ‘Future Buy Interest’ As Bitcoin and Ethereum Supply on Exchanges Dips: Santiment – Crypto News
Troves of the top stablecoin USDT are moving back onto crypto exchanges, a potentially bullish indicator, according to the crypto analytics firm Santiment.
Santiment notes 24.1% of USDT’s total supply now sits on exchanges, the highest level since March.
The analytics firm also notes that Bitcoin (BTC) and Ethereum’s (ETH) supply on exchanges has resumed going down, indicating traders are comfortable in HODLing the top two crypto assets.
Santiment calls those two trends “a golden combination” which the firm says indicates “more future buy interest.”
Additionally, the analytics firm says Bitcoin has been witnessing its highest level of unique address activity since April, with an average of 1.1 million BTC addresses sending and receiving the asset per day.
However, Santiment says that traders are seeing the recent Bitcoin rally as an opportunity to unload their BTC holdings at a small profit.
Santiment is also keeping a close watch on the issue that defunct crypto exchange FTX may start selling its massive crypto holdings. According to the analytics firm, dormant Ethereum and Binance Coin (BNB) suddenly moved this week just amid news about FTX’s possible liquidation.
“The average age in which Ethereum and Binance Coin tokens have been sitting in wallets both became much younger after massive stagnation. Do you believe both coincide with the FTX liquidations and sell-offs that began this week?”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
-
Blockchain1 week agoUS Sanctions Iran-Linked HormuzSafe, Cites Bitcoin Payments – Crypto News
-
De-fi1 week agoBitcoin Slips Below $64K After Warsh Says “No Soft Inflation Target” – Crypto News
-
Cryptocurrency1 week agoTwenty One Capital’s new CEO warns the Bitcoin treasury playbook is dying – Crypto News
-
Blockchain1 week agoElliptic Report Shows How Bitcoin ATM Scams Move From Cash To On-Chain Wallets – Crypto News
-
Cryptocurrency1 week agoThree key demand drivers stall at once, leaving Bitcoin’s $64,000 support to long-term holders – Crypto News
-
Technology1 week agoAI to strengthen enterprise software firms, not replace them: Goldman Sachs – Crypto News
-
Technology1 week ago
Breaking: Ripple-Backed XRP Treasury Evernorth Files S-4, Finalizes Executive Agreements – Crypto News
-
others1 week ago
Pi Network Price Prediction as PI Outperforms Bitcoin Ahead of Ninth Protocol Upgrade – Crypto News
-
Blockchain1 week agozerohash Launches Agentic Finance Tools for Platforms – Crypto News
-
Cryptocurrency1 week agoForget ETF flows, Bitcoin’s real threat is a hidden $39,900 liquidation wall – Crypto News
-
De-fi1 week agoSEC warning over crypto yield vaults puts DeFi’s secret human controllers in the crosshairs – Crypto News
-
Technology1 week ago
AI to strengthen enterprise software firms, not replace them: Goldman Sachs – Crypto News
-
others1 week ago
Breaking: Senator Tillis Pushes to Send Clarity Act Ethics Package to White House by Friday – Crypto News
-
Business1 week ago
US Senators Give Apple Aug 21 Deadline to Dump Blacklisted Chinese Chipmakers CXMT & YMTC – Crypto News
-
Cryptocurrency4 days agoWashington gave crypto every legal win it begged for then lost the market anyway – Crypto News