Analysis: USDT on-chain activity hits a 6-month high, traders may be preparing to buy the dip

ChainCatcher news, according to a report from the blockchain data platform Santiment, Tether (USDT) on-chain activity has reached a 6-month high, with over 143,000 wallets conducting transfers on March 11. Analysts believe 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 look for buying opportunities, thereby increasing buying pressure and driving prices up. Additionally, the inflation rate in February dropped to 2.8%, which may create a more favorable environment for the cryptocurrency market.