There is a high correlation between USDT circulation and currency price

Judging from the total circulating supply of USDT (ERC20), it has increased by approximately 15.5 billion since 2022. Normally, when the circulation of USDT increases, it will have a positive impact on the price of the currency.

It can be said that the price of coins has been rising since 2023, and the anticipation of spot ETFs has caused new funds to flow into the crypto market, improving liquidity.

Therefore, in order to continue to rise, the total amount of USDT in circulation must continue to increase.