CandleFocus Massive 728.6M USDT USDT Influx Hits Crypto Markets Following Election
2024-11-07
Author: Content Editor
In a major post-election event, 728.6 million USDT (Tether) entered the cryptocurrency market within a span of 15 hours. The inflow of Tether came solely from Tether Treasury and went directly to major exchanges such as Kraken, Coinbase, Binance, OKX, Bybit, and Cobocom. Kraken received the largest amount of USDT, followed by Coinbase and Binance. This influx of stablecoins suggests higher trading activity and potentially positive effects on cryptocurrency prices. The timing of these deposits after the election raises questions about whether it is a strategic market move driven by anticipated volatility or institutional adoption of cryptocurrencies. Investors and analysts will be closely monitoring the effects of these inflows on crypto prices.
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