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CryptoQuant: Record Broken with 43 Billion Dollars in Exchanges! Coin Prices Could Soar! - Coin Bulletin
The stablecoin supply has reached a record level in exchanges. According to CryptoQuant data, the USDT amount has increased from 30.5 billion dollars to 43 billion dollars, a 41 percent increase since November 4th.
This increase indicates that liquidity in the market is strengthening and a new wave of increase may be on the horizon.
Historically, the increase in the amount of stablecoins on exchanges is considered a precursor to the rise in Bitcoin and altcoin prices. Macroeconomic events such as the U.S. presidential elections, in particular, can increase volatility in the crypto market.
This large amount of USDT entering the exchanges may indicate that investors are preparing to make new purchases. The price of Bitcoin is already in an uptrend, and with stablecoin liquidity, the ground may be prepared for an even bigger rally.