USDT Signals Suggest the Bull Run May Continue in May
The post USDT Signals Suggest the Bull Run May Continue in May appeared on BitcoinEthereumNews.com. The total crypto market cap is now less than 15% away from its all-time high (ATH). Meanwhile, Tether (USDT), the leading stablecoin, showed signs of potential buying power in May. These signs include Tether’s continued issuance of new USDT and a significant decline in the USDT Dominance (USDT.D) ratio during May. USDT Trends Suggest Crypto Bull Run Could Continue According to data from CoinMarketCap, Tether’s market capitalization has reached a new all-time high, surpassing $151 billion. Yesterday, Tether injected $1 billion USDT into the market. In total, the company issued $2.5 billion USDT in May alone. Since the beginning of the year, USDT’s market cap has increased by $13 billion, nearly a 10% rise. Tether’s Market Capitalization. Source: CoinMarketCap “Over the past 20 days, $6 billion in cash has been injected into the market through newly issued USDT. Tether’s current market capitalization stands at $150 billion,” analyst Axel Adler Jr said. Currently, USDT accounts for 62.4% of the total stablecoin market, reaffirming its dominant position. Notably, the amount of USDT issued on the TRON network has exceeded $73 billion, surpassing Ethereum and making TRON the leading platform for USDT distribution. The rising market cap of USDT serves as a strong indicator of potential buying power. When USDT’s capitalization grows, it suggests a large amount of capital is waiting to be deployed into other crypto assets. This means that even if crypto prices decline, the market could recover quickly thanks to this incoming capital. Another bullish signal is the decline in the USDT Dominance index (USDT.D), which measures USDT’s market share relative to the total crypto market cap. Data from TradingView shows that USDT.D has dropped from 6% in April to 4.6% at press time. Tether Dominance and Ethereum Dominance. Source: TradingView The decline in USDT.D suggests that investors are using…
The post USDT Signals Suggest the Bull Run May Continue in May appeared on BitcoinEthereumNews.com.
The total crypto market cap is now less than 15% away from its all-time high (ATH). Meanwhile, Tether (USDT), the leading stablecoin, showed signs of potential buying power in May. These signs include Tether’s continued issuance of new USDT and a significant decline in the USDT Dominance (USDT.D) ratio during May. USDT Trends Suggest Crypto Bull Run Could Continue According to data from CoinMarketCap, Tether’s market capitalization has reached a new all-time high, surpassing $151 billion. Yesterday, Tether injected $1 billion USDT into the market. In total, the company issued $2.5 billion USDT in May alone. Since the beginning of the year, USDT’s market cap has increased by $13 billion, nearly a 10% rise. Tether’s Market Capitalization. Source: CoinMarketCap “Over the past 20 days, $6 billion in cash has been injected into the market through newly issued USDT. Tether’s current market capitalization stands at $150 billion,” analyst Axel Adler Jr said. Currently, USDT accounts for 62.4% of the total stablecoin market, reaffirming its dominant position. Notably, the amount of USDT issued on the TRON network has exceeded $73 billion, surpassing Ethereum and making TRON the leading platform for USDT distribution. The rising market cap of USDT serves as a strong indicator of potential buying power. When USDT’s capitalization grows, it suggests a large amount of capital is waiting to be deployed into other crypto assets. This means that even if crypto prices decline, the market could recover quickly thanks to this incoming capital. Another bullish signal is the decline in the USDT Dominance index (USDT.D), which measures USDT’s market share relative to the total crypto market cap. Data from TradingView shows that USDT.D has dropped from 6% in April to 4.6% at press time. Tether Dominance and Ethereum Dominance. Source: TradingView The decline in USDT.D suggests that investors are using…
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