USDT Exchange Balance Continues to Rise & Reaches 1-Year High

Crypto News – This month, $568 million was the largest level ever recorded by the 7-day moving average of the change in USDT held by exchanges in a year. 

USDT Exchange Balance Continues to Rise & Reaches 1-Year High

Exchanges’ holdings of USDT have consistently increased, as evidenced by the moving average, which has been positive since the beginning of February. As a result of the market’s recent turbulence, a large number of customers in this instance are probably holding USDT in their accounts. In order to determine whether the market slowdown was temporary and whether they would want to reinvest, these traders may not have yet withdrawn their USDT.

In this situation, greater selling may have contributed to the relative low that the moving average of the change in BTC held by exchanges hit earlier this month. Daily balance growth has been more than 6,000 BTC. Concerning ETH, the balance has been decreasing since it peaked at the end of March, but it is still essentially positive and is still increasing by more than 40,000 ETH every day. This is probably due to the recent slowdown in the optimistic cryptocurrency rally.