Connect with us

Hi, what are you looking for?

Investing

Institutions inject over $260 million Tether (USDT) into exchanges signaling a unique bull run

A notable transfer of around $246 million in Tether (USDT) poured into the crypto industry by market-moving players, according to latest data by Lookonchain.

Institutions continue to inject funds into the crypto market!šŸ‘€In the past 40 hours, #Cumberland has received 246.6M $USDT from #TetherTreasury and deposited it into #Kraken, #Coinbase and #OKX.https://t.co/J6VcZ2QN6C pic.twitter.com/UY1rKIm3QJ

ā€” Lookonchain (@lookonchain) July 17, 2024

Cumberland deposited the USDT amount received from Tether Treasury into exchanges Coinbase, Kraken, and OKX.

While details about the series of transactions remain vague, their effect on market liquidity remains unquestionable.

Cumberlandā€™s latest activity after months of dormancy could be a preparation for executing trades.

The move signals renewed optimism among institutions in the marketā€™s future.

The massive capital injection can magnify trading volumes and improve overall market sentiment.

Massive stablecoin movements often signal strategic investments and possible buying momentum for digital assets, translating to a bullish stance for cryptocurrencies.

Stablecoins are digital coins tied to real-world assets (the US dollar in Tetherā€™s case) to ensure stability in the volatile crypto world.

Market players use stablecoins to purchase their favorite cryptocurrencies.

Thus, the $246.6 USDT deposit in leading exchanges indicates amplified optimism and interest among institutional players.

While Cumberland possibly prepares to ā€œbuy the dip,ā€ recent trends highlight dynamic shifts in the cryptocurrency market.

Top-notch advancements in the blockchain industry continue to attract institutional investments.

Meanwhile, letā€™s check some top trends that will likely shape the crypto market in the coming months.

Hereā€™s why the next bull rally will be different

With sectors such as the metaverse, NFTs, and P2E seemingly losing the glory they had, enthusiasts are looking for the next big thing.

Some narratives that might dominate trends in the coming times include decentralized physical infrastructure networks (DePIN, artificial intelligence, and real-world asset tokenization.

Proponents believe DePIN, AI, SocialFi and RWA will carry the upcoming bull run, and the related altcoins have proved that with recent performance.

Still as bullish as ever, not sweating the dips ā€“ I’m in it for the long term!The narratives that still get me fired up are:ā€“ GameFiā€“ AIā€“ RWAā€“ DePinā€“ SocialFiAnd yeah, mad props to everyone sticking around in these tough market times, LFG!

ā€” ElonMoney (@0xelonmoney) July 3, 2024

Furthermore, these sectors have witnessed an influx of projects this year.

While enthusiasts wait to see how different the next bull run will be, USDT movements into the market highlight bullishness.

Besides indicating impending substantial trading activities, stablecoin injection boosts market liquidity, creating a lucrative environment for investors.

Surged funds flowing into cryptocurrency exchanges paint a positive picture for digital assets.

The post Institutions inject over $260 million Tether (USDT) into exchanges signaling a unique bull run appeared first on Invezz

You May Also Like

Latest News

President Biden is asking Congress to approve nearly $100 billion in emergency funding to aid recovery efforts for the recent deadly storms that ravaged...

Latest News

Activists on Saturday demanded that the state of California pay millions of dollars to each Black resident in reparations as a way to make...

Stock

One hallmark of secular bull markets is rotation. When leading stocks, sectors, and industry groups falter, there needs to be others that grab the...

Latest News

Vice President Kamala Harris spent a whopping $1.5 billion during her 15-week campaign that ended in defeat to President-elect Donald Trump, including burning through...



Disclaimer: Frequencytraders.com, its managers, its employees, and assigns (collectively ā€œThe Companyā€) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright Ā© 2024 Frequencytraders.com