Santiment analysts have recorded an accumulation of stablecoins on whale addresses

In their view, the accumulation of USDT is linked to an increase in the purchasing power of large investors

08.03.2022 - 10:00

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Santiment analysts have recorded an accumulation of stablecoins on whale addresses

What’s new? The analytical company Santiment has published a number of observations regarding the movement of funds on the wallets of major cryptocurrency holders. The authors note that the last month has been characterized by the accumulation of stablecoins.

Source: Twitter.com

“In the last month, addresses with 10 000 to 10 million Tether have added $1,06 billion in buying power, 2,7% of the total supply.”

The analysts pointed out that a similar situation is happening with Ethereum, the second most capitalized cryptocurrency. Whale’s wallets hold more than 21% of the total issued assets as of March 8.

What other important data has been released? Santiment believes that the large holders increase their purchasing power by locking in their funds in stablecoins. The analysts in the monthly cryptocurrency market report also noted a continued outflow of bitcoin from centralized exchanges, which may be due to investors’ desire to hold onto their assets to make purchases once the market stabilizes.

The full version of the Santiment report

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