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

Odaily News According to blockchain data platform Santiment, Tether (USDT) on-chain activity reached a six-month high, with more than 143,000 wallets transferring 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 usually accumulate USDT when the market falls in order to find buying opportunities, thereby increasing buying pressure and driving prices back up. In addition, the inflation rate fell to 2.8% in February, which may create a more favorable environment for the cryptocurrency market. (Cointelegraph)