Source: Cointelegraph.com NewsOnchain activity for Tether has hit a sixth-month high, possibly indicating traders are gearing up to jump back into the market, according to analysts.\u00a0\u00a0
\nData shared by the blockchain data platform Santiment in a March 12 X post shows Tether\u2019s (USDT) onchain activity has been on the rise, peaking with over 143,000 wallets making transfers on March 11, the highest in six months.
\n\u201cWhen USDT & other stablecoin activity spikes during price drops, traders are preparing to buy. Added buy pressure aids in crypto prices recovering,\u201d Santiment said.
\nOnchain activity for Tethers USDT has spiked, reaching a sixth-month high. Source: SantimentIt comes as Bitcoin (BTC) dropped to a four-month low of $76,700 on March 11, as the wider crypto market shed even more of the gains made post-US election amid macroeconomic uncertainty and an escalating tariff war.
\nSpeaking to Cointelegraph, Vincent Liu, chief investment officer at Kronos Research, said traders often accumulate Tether during dips to position themselves for buying opportunities, adding buy pressure that can help crypto prices recover.
\nHe speculates the uptick in USDT wallet activity likely reflects traders capitalizing on recent market volatility.
\n\u201cPossible causes include broader economic uncertainties, crypto-specific events like regulatory developments or post-election sentiment shifts, and Tether\u2019s role as a stable haven, making it an ideal holding for investors preparing to deploy capital strategically,\u201d Liu said.
\nRelated: Bitcoin, crypto \u2018dip buy hype\u2019 is now at its highest level in 7 months
\nLiu says the surge in USDT activity is a bullish indicator, suggesting significant buying power on the sidelines, but the crypto market\u2019s recovery will likely depend on factors like macroeconomic conditions, regulatory clarity, and investor confidence.
\n\u201cHowever, with the inflation rate easing to 2.8% in February, lower than expected in recent CPI data, this could reduce pressure on crypto prices and signal a more favorable environment,\u201d he said.
\n\u201cAdditionally, the upcoming Federal Open Market Committee (FOMC) on March 18th may provide further indications on interest rates and monetary policy, potentially influencing market development and recovery,\u201d Liu added.\u00a0
\nA key Bitcoin and crypto sentiment tracker, the Crypto Fear & Greed Index, hit its lowest score in over two years on Feb. 26 as it slipped deeper into \u201cExtreme Fear,\u201d reaching a score of 10.
\nCrypto sentiment has staged a recovery since, but the index has still registered a score of 45 on March 13, still in fear territory.
\nTether CEO Paolo Ardoino touring the US\u00a0
\nMeanwhile, Tether CEO Paolo Ardoino is currently on a tour of the US as lawmakers move to regulate the sector.
\nDuring a March 12 speech at the Cantor Fitzgerald Global Technology Conference, he said that as it stands, around 37% of USDT users are using it as a savings account to store value.
\n\u201cThey don\u2019t have bank accounts. The only thing that they have in their life is usually cash,\u201d Ardoino said.
\n\u201cNow they finally can hold the most used and most important stable currency in the world, that is the US dollar, but they keep it in their smartphones as their savings account.\u201d<\/p>\n
CEO of @Tether_to, @paoloardoino, speaks at Cantor’s Global Tech Conference. #CantorTechhttps:\/\/t.co\/2z8d46WDMG\u2014 Cantor (@Official_Cantor) March 12, 2025<\/p>\n
At the same time, Ardoino said, Tether is acting as one of the \u201clast strongholds for the US dollar\u201d amid growing concerns that the US dollar could lose dominance as the world\u2019s reserve currency and a go-to for international transactions and commodity trades.The stablecoin issuer has also been working to curb bad actors in the space, collaborating on more than 170 law enforcement operations and freezing $2.5 billion in illicit funds, according to Ardoino.Magazine: Crypto fans are obsessed with longevity and biohacking: Here\u2019s whyRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":" Source: Cointelegraph.com NewsOnchain activity for Tether has hit a sixth-month high, possibly indicating traders are gearing up to jump back into the market, according to analysts.\u00a0\u00a0 Data shared by the… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124959"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124959"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124959\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124959"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}