Analyst: The significant increase in USDT holdings on trading platforms since August may indicate a rise in buying interest.

Analyst Yonsei_dent said that since August 2024, the holding volume of USDT stablecoin on the trading platform has been increasing rapidly. This change is worth noting compared to the relatively stable USDT holdings from March to July this year.
Analysis indicates that the influx of stable coins into trading platforms is interpreted as a signal of increased buying interest, which may have a positive impact on encryption currency prices. However, an increase in holdings does not necessarily lead to price increases. If the market trend is unclear or the global economic situation is difficult, for risk aversion considerations, there may be no purchases made. #BTC#