Ku NewsBTC - 1 year ago - Reading Time: 2 menit
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 sareng 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 mangrupikeun stablecoin populér anu ngalacak nilai USD. Sadia dina sababaraha blockchains, utamana dina Ethereum jeung Tron, USDT paling cair, kalawan dimodalan pasar $79.4 milyar, nurutkeun trackers.
Pikeun konteks, dina inohong ieu, USDT téhnisna teh katilu pangbadagna cryptocurrency asset only after Bitcoin and Ethereum, whose market caps stood at $554.8 billion and $221 billion on March 30.
Stablecoin mangrupa paling cair jeung ngaleuwihan USDC, dikaluarkeun ku Circle, anu cap pasar nangtung di $ 33.2 milyar dina 30 Maret, sarta BUSD, ku Paxos, anu suplai sirkulasi éta $ 7.6 milyar nalika nulis.
Stablecoins maénkeun sababaraha peran dina cryptocurrency. Kusabab anu pang populerna dirojong ku kas sareng sarimbag kas, nyukcruk nilai USD, aranjeunna dianggo salaku saluran antara keuangan tradisional sareng pamandangan cryptocurrency anu ngembang 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 Atawa Flocking Pikeun Kasalametan?
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.
Di sagigireun aspék harga, kanaékan USDT Holdings batang ti New York Departemen Layanan Financial (NYDFS) urutan pikeun Paxos, penerbit BUSD, eureun minting tokens anyar.
Also, earlier, USDC, the second most popular stablecoin, briefly de-pegged. In light of these events, most users converted stablecoin holdings to USDT.
sumber aslina: NewsBTC