USDT Volume on Crypto Exchanges Hits Highest Level in a Year

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The volume of USDT on exchanges in the second half of April reached $568 million, which is the highest level for the year.

It is speculated that this increase in the number of stablecoins supports the prediction of a bullish trend in the market.

Typically, stablecoins with real collateral are utilized to purchase Bitcoin and other cryptocurrencies. In contrast, the volume of BTC on exchanges has actually increased in April, leading to a decline in the value of the largest virtual currency.

However, the situation has now stabilized. The activity of traders is slowing down, and the influx of stablecoins to exchange addresses suggests that investors are gearing up to start buying again.

Experts are hopeful that this activation of bullish investors will lead to a surge in Bitcoin’s value above $70,000 this week.

On the night of April 26, BTC saw an increase to $64,900. The cryptocurrency is gradually recovering after experiencing a dip earlier in the week.