USDT reserves on exchanges slid to $51.1bn, stalling crypto’s rally and testing a $50bn line.
Over two months, exchange reserves of the stablecoin USDT fell from $60bn to $51.1bn. The outflows stalled the crypto market’s gains in January and February, said the CryptoQuant analyst known as TopNotchYJ.
The Liquidity Drain: Is the Crypto Market Running Dry?
“Without a stabilization in stablecoin reserves and a return of active participants, the “pain” is likely to persist. Watch the $50B USDT…
