USDT on chain activity hits 6-month high, traders may be preparing to buy bottom

Odaily Planet Daily News: According to Santiment, a blockchain data platform, the on chain activity of Tether (USDT) reached a six-month high, with over 143000 wallets making transfers on March 11th. Analysts believe that this may indicate that traders are preparing for a market rebound. Vincent Liu, Chief Investment Officer of Kronos Research, pointed out that traders typically accumulate USDT during market downturns to seek buying opportunities, thereby increasing buying pressure and driving prices back up. In addition, the inflation rate dropped to 2.8% in February, which may create a more favorable environment for the cryptocurrency market. （Cointelegraph）