For the crypto market to fully enter another epic bull run, investors must be willing to purchase digital assets in large quantities. After a long stretch of abysmal performance, it looks like crypto investors are finally starting to believe in the market as they begin to pool their buying power to enter back into the market.
Crypto Buying Power At 6-Month Highs
An interesting development reported by the on-chain data tracker Santiment is the accumulation of Tether’s USDT stablecoin by crypto investors. As Santiment points out, the total amount of USDT being held on exchanges saw a notable uptick recently.
The figure which takes into account the total USDT held across the top exchanges went from only 17.6% of the stablecoin’s circulating supply to a whopping 24.7%. This 7.1% jump represents the growing interest of investors to get back into the market which could be bullish for prices.
As always, the large whales led the charge in this accumulation trend. The top 10 largest wallets
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