Crypto Firm Makes Bullish Predictions as USDT Flows Into Exchanges
Santiment reports USDT increase on exchanges, signaling a potential bullish market trend, as Solana and Ethereum show recovery.
Crypto analysts firm Santiment is hinting at a possible bullish trend as USDT, a top stablecoin, has increased on crypto exchanges in the last six months,
Bitcoin has increased slightly on crypto exchanges due to traders' uncertainty, but USDT inflows are countering this sell-off. There's now 7% more USDT on exchanges, a positive sign for investors.
USDT has a supply of over 90 Billion, with about 26% of this total supply now on exchanges. Even while traders are making a lot of bearish predictions after the recent drop, Santiment stated that the markets often move unexpectedly, which means it could go either way.
Ethereum, Solana, and other altcoins are recovering from the weekend's price drop, Santiment explained that Solana's positive sentiment may need to drop before it can see a price increase. Solana is currently trading at $65.99, up by 4.5% in the past week, according to data from Coinpaprika.
