Editor's PiCK
Tether transfer volume surges on Tron network…"Possibility of continued correction ↑"
Son Min
Summary
- It was reported that Tether (USDT) transfer volume has surged on the Tron network.
- It was also stated that retail investors tend to transfer USDT to exchanges near the market peak.
- The increase in USDT transfers was interpreted as a signal of continued market correction and a further decline in Bitcoin.
With the volume of Tether (USDT) transfers surging on the Tron (TRX) network, an analysis has emerged suggesting that the cryptocurrency market correction may continue.
On the 18th (local time), BorisD, a contributor to CryptoQuant, stated in a report, "The volume of USDT transfers on the Tron network has surged," and added, "Ordinary retail investors tend to transfer USDT to exchanges near the market peak."
He continued, "Accordingly, the surge in USDT transfers is a sign that the market correction is likely to continue," and "The likelihood of Bitcoin's decline persisting is also high."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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