#santiment

The post USDT On Ethereum Sees Largest Exchange Outflow Since February — Details appeared on BitcoinEthereumNews.com. Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Ope

According to the latest on-chain data, the Ethereum-native iteration of USDT, the world’s largest stablecoin, has just witnessed its largest exchange outflow in recent months. 1.29 Billion USDT Flow Out Of Crypto Exchanges In a May 9th post on the X platform, blockchain analytics firm Santiment revealed that USDT on the Ethereum network recently recorded its largest flow out of exchanges in months. Around 1.29 billion stablecoins (the highest since February) were transferred out of exchanges on Friday, May 8th. This on-chain observation is based on the change in the Exchange Flow Balance indicator, which measures the net amount of tokens moving into and out of centralized exchange addresses. Related Reading: This 1 Chart Explains Why Bitcoin Is Winning And Ethereum Is Losing Right Now A spike in the Exchange Flow Balance metric indicates that more tokens (USDT, in this case) are flowing to centralized exchanges. On the other hand, when the indicator declines, it suggests that investors

The increase in bullish versus bearish crypto commentary on social media has Santiment warning that the recent crypto market rally may be short-lived.