Express

Influx Of Stablecoins Onto Exchanges Seems To Correlate To Drops In Bitcoin's Price

Emily Mason

Summary: There is a strong relationship between stablecoin activity on major exchanges and Bitcoin's short-term market movements, cryptocurrency behavior analytics platform Santiment argued in a recent tweet. A major rise in USDT moving to exchanges has correlated to large drops in Bitcoin's price. On September 4, 1.087 billion USDT  moved to exchanges near the same time ...

There is a strong relationship between stablecoin activity on major exchanges and Bitcoin's short-term market movements, cryptocurrency behavior analytics platform Santiment argued in a recent tweet.

A major rise in USDT moving to exchanges has correlated to large drops in Bitcoin's price. On September 4, 1.087 billion USDT  moved to exchanges near the same time as a steep decline in the price of Bitcoin. Over the past four days an influx of USDT into exchanges has tracked near Bitcoin's fall from $10,500.

By Emily Mason

Last Update:

Tags: ,,,
Link: Influx Of Stablecoins Onto Exchanges Seems To Correlate To Drops In Bitcoin's Price   [Copy]
Next:

Related Articles

  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 3 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 9 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 12 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 13 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 16 days ago

    • You need to login to comment.