Joao Wedson, CEO of cryptocurrency analysis firm Alphractal, evaluated the remarkable data regarding Tether (USDT) transfers on the TRON network.
According to Wedson's statement, centralized exchanges, and particularly Binance and the TRON network, are transferring large amounts of USDT.
On-chain data shows that Binance alone handles approximately 62% of TRON-based USDT transfers, with daily volumes ranging from $2.5 billion to $3 billion. Historically, such large USDT transfers have been known to occur just prior to periods of high volatility in crypto markets, according to the analyst.
Joao Wedson added that one of the reasons for this activity could be the increasing institutional interest in cryptocurrencies.
However, analysis firm Alphractal has determined that the long-dormant Bitcoin supply is being activated as the price of Bitcoin increases. The analysis firm believes one of the biggest reasons for the awakening of these dormant coins is the intense interest in spot ETFs. Analysts argue that this has created a more dynamic and responsive market.
*This is not investment advice.
