USDT and other stablecoin holders dump holdings massively to move into this new exchange token

USDT and other stablecoin holders dump holdings massively to move into this new exchange token

The market for cryptocurrencies is undergoing a seismic change as investors in USDT and other stablecoins are selling off their holdings in large quantities. What caused this abrupt departure? A new exchange token DTX that promises better functionality and bigger payouts is creating a lot of buzz and attracting investors. 

Stablecoin investors are selling their shares, leaving the market perplexed as to what’s behind this extraordinary exodus. Is it a passing trend or an indication of a deeper change in the crypto space? We’ll look at the causes of this phenomena and how it may affect digital assets in the future in this piece.

Binance coin (BNB) On the verge of bullish breakout: Analyst eyes 40% price uptick

Binance Coin (BNB) is seeing a rush of excitement, signaling a good path for future growth. BNB has demonstrated amazing endurance over the last week, with an 8% price gain. Despite a 2% fall in the previous 30 days, BNB has remained stable, demonstrating its potential for future upward growth.

Source: TradingView

BNB has defied negative trends in the crypto market, displaying remarkable strength and boosting investor confidence in its long-term prospects. With a current value of $579.77, 24-hour trading volume of $1.60 billion, and market capitalization of $85.57 billion, BNB is positioned for continued growth.

From a technical perspective, BNB is expected to experience sustained growth over the medium to long term. Currently moving within a rectangular consolidation pattern, BNB’s next price movement will be determined by a breakthrough in support ($550) or resistance ($604) levels. A move below support or above resistance would signify a significant momentum shift, with analysts forecasting a potential 40% surge for BNB.

Less than 10% of stablecoin transaction volume coming from real users

A recent report by Visa and Allium Labs reveals that only a small fraction of stablecoin transactions come from real people. Out of $2.2 trillion in total transactions in April, just $149 billion was attributed to “organic payments activity” made by individuals, excluding transactions by bots and large-scale traders.

The stablecoin market currently has a supply of around $150 billion, with tether (USDT) and USD Coin (USDC) dominating the market with 75% and 22% shares, respectively. Stablecoins are cryptocurrencies pegged to another asset class, typically the US dollar, to maintain a stable value.

Despite the discrepancy between total transfer volume and bot-adjusted transfer volume, the analysis found a steady growth in monthly active stablecoin users, with 27.5 million users across all chains. This growth suggests that stablecoins are gaining traction among individuals, even if the majority of transactions are currently driven by automated processes.

Investors are turning into DTX exchange

The DTX Exchange Token is generating interest in the cryptocurrency market, particularly with its ongoing presale event. The exchange has a platform that provides up to 1000x leverage on global assets such as crypto, equities, bonds, currencies, and commodities. With a current presale price of $0.04, the DTX token has raised more than $500k of its $2 million goal. 

The following stage will see the price rise to $0.06, signaling a major potential for early investors. The DTX Exchange’s dedication to high-velocity trading, lack of KYC requirements, and varied selection of over 120,000 trade products make it a potential DeFi powerhouse. Investors are taking note, with many migrating from stablecoins like USDT to DTX, anticipating significant gains as the platform develops.

For more details about this project:

Visit DTX Presale

Join The DTX Community

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