Ethereum

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 <p>Top stablecoin USDT is witnessing a surge in on-chain activity, according to the crypto analytics firm Santiment.</p>
 <p>Santiment notes that USDT, which is issued by Tether and aims to maintain to maintain a 1:1 peg with the US dollar, recently notched a three-month high in active addresses, in large part due to an increase in exchange deposits.</p>
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 <p>Earlier this week, Santiment noted that the amount of USDT on exchanges had reached a level last seen in March 2023, giving a boost to the “buying power” of crypto investors.</p>
 <p>USDT had a peak high of $16.96 billion on exchanges in August 2022, which declined to a low of $7.12 billion in June 2023, a more than 58% decrease, according to a chart provided by the analytics firm.</p>
 <p>Additionally, Santiment notes that large wallets holding between $1-10 million worth of USDT have been accumulating the top stablecoin. The firm says that metric also indicates “interest in future buys.”</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F8Fvpn-bkAAHQxm?format=jpg&amp;name=4096x4096" alt="Image" width="2719" height="1726">
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   Source: Santiment/X
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 <p>The analytics firm also weighs in on Ethereum (ETH), noting that ETH’s top-10 non-exchange addresses continue to gobble up the second-largest crypto asset by market cap. Those addresses now hold a total of 39.22 million ETH, an all-time high number that is worth more than $61.2 billion at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/usdt-whale-activity-heating-up-as-exchange-deposits-rapidly-accelerate-according-to-analytics-firm-santiment-tbt66094.html">https://thebittimes.com/usdt-whale-activity-heating-up-as-exchange-deposits-rapidly-accelerate-according-to-analytics-firm-santiment-tbt66094.html</a></p>

USDT Whale Activity Heating Up As Exchange Deposits Rapidly Accelerate, According to Analytics Firm Santiment

TheBitTimes

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