USDT is the most-searched term on Square over the past 6 hours—but don’t rush to call it “guns loaded, countdown to buying the dip.”
Stablecoin side: total supply is around $301.5B, down about 0.55% over the past 7 days, with USDT accounting for roughly 60%. Total open interest in crypto futures is down about 0.7% in a day, and the average funding rate is still negative. Money sitting on the sidelines ≠ ready to flow into risk assets. It looks more like a wait-and-see position than a signal to go on the offensive.
Stablecoins trending ≠ risk appetite recovering. Do you think this is defensive money sitting idle, or the night before the guns are loaded?
$USDT $ETH $BNB
Stablecoin side: total supply is around $301.5B, down about 0.55% over the past 7 days, with USDT accounting for roughly 60%. Total open interest in crypto futures is down about 0.7% in a day, and the average funding rate is still negative. Money sitting on the sidelines ≠ ready to flow into risk assets. It looks more like a wait-and-see position than a signal to go on the offensive.
Stablecoins trending ≠ risk appetite recovering. Do you think this is defensive money sitting idle, or the night before the guns are loaded?
$USDT $ETH $BNB