USDT transfer volume recovers to $52.9 billion... Gradual recovery in the stablecoin market
Minseung Kang
Summary
- Glassnode reported that the on-chain transfer volume of Tether (USDT) is steadily recovering.
- It was stated that the current 30-day average transfer volume of USDT has reached $52.9 billion.
- The market interprets this data as a sign of gradual recovery in both trading activity and the stablecoin market.
It has been analyzed that the on-chain transfer volume of Tether (USDT) is steadily recovering.
On the 1st, on-chain data analytics firm Glassnode stated on X (formerly Twitter), "(Stablecoin transfer volume) surged in early 2022 and then plummeted, but the 30-day average volume of USDT moved on major blockchains has continuously increased and now reaches $52.9 billion."
The market interprets this figure as an indicator of recovering trading activity. Glassnode assessed, "This is a signal that the stablecoin market is recovering slowly but consistently."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
