Rise

<ul class="news-points"> 
 <li>Santiment reported an increase in USDT supply on crypto exchanges.</li> 
 <li>The report observed that 25.8% of all USDT is now held on exchanges, a 6.9% increase in the past six months.&nbsp;</li> 
 <li>Santiment said the rise could be a great sign for bulls and could counter the recent massive selloffs.</li> 
</ul> 
In a <a href="https://x.com/santimentfeed/status/1734473475245687218?s=20" target="_blank" rel="nofollow">recent post</a> on X (formerly Twitter), cryptocurrency data tracking platform Santiment reported an increase in the number of USDT stablecoin transfers to crypto exchanges.&nbsp; 
According to the post, there is now 6.9% more USDT on exchanges compared to data seen six months ago. Santiment described this trend as a great sign for bulls, which could bring in new buying power to counter the recent market pullback. Per the report, 25.8% of the total supply of USDT is now held on cryptocurrency exchanges.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/Kgy-bP3KUfWXZ7GYmmlF-xfMPKZDOalYLOEtIb0MzIk2uhQhUW_gSOqPWGi1mZKDBiI56NrPzZB5l2D_7e4PrkJXuR28TDA5DG_HkJ5thhp9HsEFz-74ncHPLSr1pJYJXiGW1EAPLGiLtFKTsBN7voY" alt="" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 USDT, USDC, BTC, ETH Supply on Exchanges | Source: <a href="https://app.santiment.net/charts?settings=%7B%22slug%22%3A%22bitcoin%22%2C%22ticker%22%3A%22BTC%22%2C%22from%22%3A%222023-06-11T07%3A00%3A01.378Z%22%2C%22to%22%3A%222023-12-12T07%3A59%3A59.378Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22price_usd%22%2C%22percent_of_total_supply_on_exchanges%22%2C%22%5B1%3Bpercent_of_total_supply_on_exchanges%3Bethereum%3BETH%5D%22%2C%22%5B1%3Bpercent_of_total_supply_on_exchanges%3Btether%3BUSDT%5D%22%2C%22%5B1%3Bpercent_of_total_supply_on_exchanges%3Busd-coin%3BUSDC%5D%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%238c8c8c%22%2C%22%23FF5B5B%22%2C%22%23FFCB47%22%2C%22%235275FF%22%2C%22%23FF8450%22%5D%2C%22ws%22%3A%7B%220%22%3A%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%2C%221%22%3A%7B%22node%22%3A%22area%22%7D%2C%222%22%3A%7B%22node%22%3A%22area%22%7D%2C%223%22%3A%7B%22node%22%3A%22area%22%7D%2C%224%22%3A%7B%22node%22%3A%22area%22%7D%7D%7D%5D" target="_blank" rel="nofollow">Santiment</a>
 </figcaption>
 </figure>
</div> 
At the same time, the platform also reported a slight movement of Bitcoin to exchanges as market uncertainty looms. Currently, 5.5% of all Bitcoins are on exchanges. By contrast, 8.1% of the total supply of Ether is held on crypto exchanges.&nbsp; 
Meanwhile, Santiment’s report follows an unexpected slump in Bitcoin’s price…
The post <a href="https://coinedition.com/a-great-sign-for-bulls-santiment-reports-rise-in-usdt-on-exchanges/">“A Great Sign for Bulls”: Santiment Reports Rise in USDT on Exchanges</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

“A Great Sign for Bulls”: Santiment Reports Rise in USDT on Exchanges

Coin Edition

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