Over $18 Billion USDT Held In Binance, Bull Run Incoming?

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Over $18 Billion USDT Held In Binance, Bull Run Incoming?

nansen data on March 30 shows that over $18 billion of USDT is held on Binance, the world’s largest cryptocurrency exchange by user count and trading volumes.

Binance Holding Over $18 Billion Of USDT

At this pace, USDT constitutes the biggest share of assets held in the exchange, even exceeding other popular cryptocurrencies like Bitcoin dan Ethereum.

As of the time of writing on March 30, Bitcoin and Ethereum shares at the exchange stood at 23% and 12%, respectively, while USDT commanded 28.71% of the total allocation. In all, Binance held over $64.6 billion of user crypto assets, making it the largest cryptocurrency exchange by assets.

USDT adalah stablecoin populer yang melacak nilai USD. Tersedia di beberapa blockchain, terutama di Ethereum dan Tron, USDT adalah yang paling likuid, dengan kapitalisasi pasar $79.4 miliar, menurut pelacak.

Untuk konteksnya, pada gambar ini, USDT secara teknis adalah ketiga terbesar cryptocurrency asset only after Bitcoin and Ethereum, whose market caps stood at $554.8 billion and $221 billion on March 30.

Stablecoin adalah yang paling likuid dan melebihi USDC, yang dikeluarkan oleh Circle, yang kapitalisasi pasarnya mencapai $33.2 miliar pada 30 Maret, dan BUSD, oleh Paxos, yang suplai sirkulasinya mencapai $7.6 miliar saat penulisan. 

Stablecoin memainkan berbagai peran dalam cryptocurrency. Karena yang paling populer didukung oleh uang tunai dan setara kas, melacak nilai USD, mereka digunakan sebagai penghubung antara keuangan tradisional dan mata uang kripto yang berkembang pesat.

Over the years, in times of a crisis, especially tanking asset prices, the cumulative market cap of stablecoins also tends to increase. This is because stablecoins are, as the name suggests, “stable,” meaning crypto holders with Bitcoin or other volatile assets can revert to stablecoins as a refuge.

Crypto Bull Run Atau Berbondong-bondong Ke Tempat Aman?

The inflow of stablecoins into exchanges also indicates optimism among retail and institutional traders. With an increasing share of USDT in Binance, a leading cryptocurrency exchange, it might suggest that traders are positioning themselves for a bull run.

Earlier today, on March 30, Bitcoin prices rose above $29,000 for the first time in Q1 2023. Although prices have recoiled, traders appear upbeat as bulls build on gains of March 29. Since mid-March, Bitcoin prices have increased by around 46% amid a banking crisis in the United States. 

Selain aspek harga, peningkatan kepemilikan USDT berasal dari perintah Departemen Layanan Keuangan New York (NYDFS) untuk Paxos, penerbit BUSD, untuk menghentikan pencetakan token baru.

Also, earlier, USDC, the second most popular stablecoin, briefly de-pegged. In light of these events, most users converted stablecoin holdings to USDT.

Sumber asli: NewsBTC