Rally

Coin

<ul class="wp-block-list news-points">
 <li>USDT dominance is dropping, down 28% since October 2023.&nbsp;</li>
 <li>A drop in dominance might be a signal for an upcoming altcoin rally.</li>
 <li>Money might be flowing into the altcoin sector from the stablecoin.</li>
</ul>
The dominance of Tether (USDT), the largest stablecoin by market capitalization, has dropped significantly over the past year, possibly indicating an impending altcoin rally. This decline coincides with Bitcoin’s struggle to break through the $69,000 resistance level, leading investors to seek alternative opportunities in the crypto market.
TradingView data <a href="https://in.tradingview.com/symbols/USDT.D/" target="_blank" rel="noopener noreferrer nofollow">reveals</a> that USDT dominance fell 0.53% in the past 24 hours and 0.62% in the last seven days. Over the past month, it dropped 4%, though it surged 27% in the last six months.
However, USDT dominance plummeted 28% over the past year, while the year-to-date value is only up around 0.8%. This suggests that investors may have recently taken profits and are now waiting for an opportunity to re-enter the market.
<h2 class="wp-block-heading" id="h-altcoin-rally-expected-as-usdt-dominance-falls">Altcoin Rally Expected as USDT Dominance Falls</h2>
Interestingly, a downtrend in USDT dominance often precedes an altcoin rally. This typically indicates that money is flowing out of the stablecoin and into …
The post <a href="https://coinedition.com/falling-usdt-dominance-hints-at-potential-altcoin-market-rebound/" rel="noopener noreferrer nofollow">Falling USDT Dominance Hints at Potential Altcoin Market Rebound</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Falling USDT Dominance Hints at Potential Altcoin Market Rebound

Table of Contents

Coin Edition

Other articles published on Oct 10, 2024

Crypto-Backed PACs Fuel Record Spending in Ohio Senate Race

Leading Stablecoin Issuers & Crypto Firms Embrace International Set Of Stablecoin Standards

Crypto Spending Powers Ohio’s Senate Race in Tight Battle Between Brown and Moreno

Polymarket Considering Token Launch Amidst New $50M Fundraising Talks: Report

Visa Introduces Tokenized Asset Platform for Fiat-Backed Tokens

FSC Chair Kim Byeong-hwan to Investigate Upbit’s Monopoly in Virtual Asset Market

Join our free newsletter for daily crypto updates!