Bitcoin

TRON

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<ul class="news-points">
 <li>Joao Wedson spotted a correlation between USDT volume and BTC prices.</li>
 <li>Binance controls over 60% of all USDT transfers on the TRON network.</li>
 <li>Traders and investors use USDT volume trends for market predictions.</li>
</ul>
Data analyst Joao Wedson has identified a correlation between the USDT transaction volume on the TRON network and Bitcoin prices. In a post <a href="https://cryptoquant.com/insights/quicktake/66a5be82f292493c010b2cc1-Binance-and-the-Dominance-of-USDT-Transfers-on-TRON-Impact-on-BTC-and-the-Import" target="_blank" rel="noopener noreferrer nofollow">on Cryptoquant</a>, Wedson explained how USDT correlates more strongly with BTC than with TRX, the TRON network’s native cryptocurrency.
Wedson observed that Binance controls over 60% of all USDT transfers on the TRON network. According to his analysis, the transaction trends suggest the bulk of these transfers involve converting USDT to Bitcoin, the largest cryptocurrency by market capitalization.
Wedson attributed the dominance of USDT-BTC transactions on Binance to Bitcoin’s position as a stable store of value, its market leadership, and the arbitrage and liquidity opportunities offered by Binance. He suggested that Bitcoin is a preferred choice for most investors during periods of uncertainty, and that investors also use the flagship crypto to position themselves ahead of significant market movements.
Wedson als…
The post <a href="https://coinedition.com/crypto-analyst-finds-link-between-usdt-on-tron-and-bitcoin-price/" rel="noopener noreferrer nofollow">Crypto Analyst Finds Link Between USDT on TRON and Bitcoin Price</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto Analyst Finds Link Between USDT on TRON and Bitcoin Price

Coin Edition

Ďalšie články zverejnené 29. 7. 2024

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