The number of Tether's active addresses daily has dropped to the level, which was last recorded in 2020

The number of Tether's active addresses daily has dropped to the level, which was last recorded in 2020

  • according to data from Santiment make almost 80 % of the current USDT offer from
  • Bitcoin megawale have accumulated a significant part of the cryptocurrency since the last week of December

Data from the Santiment market behavioral platform draw a picture of the forest dominance on the stable coin markets of Tether and USD Coin. It also shows that the number of daily active Tether addresses fell to a low that was last recorded over two years ago.

dominance of Tether and USD-Münzwalen

Tether, the world's largest stable coin, currently has a market capital of almost $ 78 billion (around 3.8 % of total market capital for cryptocurrencies). Among the crypto tokens and other digital assets, only Bitcoin and Ethereum have a higher market circulation value.

Tether addresses with a value of $ 1 million and more control 79.98 % of the circulating USDT offer Results From Santiment analysts. This number of dominance has previously risen to 80.13 %, and the research company claims that this increasing dominance is good for the market.

"In general, Wal #stablecoin addresses that increase your purchasing power is a good perspective for #krypto

The corresponding forest dominance for USD coins is 86.81 % Data . USD coin, whose market capital is around $ 51.65 billion, occupies fifth place among cryptocurrencies with the largest market capitalization and is only second to Tether.

The daily active addresses of Tether have dropped

In the meantime, the number of addresses on Tether daily has dropped over time. Santiment shared a tweet today, in which it is described in detail that this number has approached the lowest level since February 2020.

"[The] The amount of addresses in his network daily fell quietly to a two-year low and after the #Bitcoin #allTimehigh dropped rapidly in mid-November. In the past, we saw that less about #Stablecoin transactions with the following $ BTC increase", on-chain analysts from noted .

Bitcoin megawale on a lively accumulation tour

Santiment analysts also observed that Bitcoin addresses with more than 1,000 bitcoins have accumulated more than 200,000 bitcoins since the last week of December. This strong climb was last observed over 125 months ago.

"Megawale from #Bitcoin have accumulated in the past 7 weeks. Addresses with $ 1,000 BTC or more have added a total of $ 220,000 BTC since December 23, the fastest accumulation that we have seen since September 2019", Micht wrote .

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Source: Coinlist.me

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