Massive Crypto Whale Activity In USDT And USDC Suggests Upcoming Bull Run, How?

The crypto market’s unique characteristic is volatility. It surprises many observers. Investors and traders in crypto market create a favorable environment to earn huge profits.

The presence of bulls has been evident in the crypto market over the last week. The majority of crypto assets experienced impressive value reversals. Most tokens broke their resistance and moved further north. The cumulative market capital reached the coveted $1 trillion mark.

However, the market’s trends have cooled down this week. Many analysts in crypto are now watching to find the next move. They’ve focused on the recent activity of some major stablecoins, such as Tether (USDT) and USD Coin (USDC).

Crypto market set for upcoming volatility

According to on-chain dataThe USDT and USDC stablecoins have seen massive whale activity. These high-valued transactions suggest the potential for significant volatility in future.

Santiment, an online data provider for on-chain data noted that Whales engage in massive crypto activity beginning Monday after weekend volatility. The stablecoins USDT (and USDC) are reported to be the largest digital assets with whale transactions exceeding $100k+.

Market movements will result from greater buying power. The market is likely to experience more volatility in the near future.

In line with current market conditions and the recent rally, a more positive outcome can be expected. The speculation is that the crypto market bull run will continue following the whales’ increased digital asset buying spree.

The total market capital is $970 billion at the time this article was written. This indicates a significant increase in the last 24 hours. All stablecoin volume is $81.19 Billion, which represents 92.76% in the 24-hour cumulative volume for digital assets.

Massive Crypto Whale Activity In USDT And USDC Suggests Upcoming Bull Run, How?
Source: Crypto Total Market Cap| Source: Crypto Total Market Cap on

DoJ Toss USDT Investigation

The US Department of Justice (DoJ), after months of silence pushes for the investigation plans to be made on Tether USDT. This is in keeping with allegations that Tether bank fraud victims are Tether executives.

According to Bloomberg’s report, US Attorney Damian Williams in the Southern District of New York will lead the probe for DoJ.

USDT’s issuing company disclosed that they had long maintained an undivided relationship with the DoJ. It stated, however that it has not spoken to the DoJ about its senior executives since this year. The agency reported that it had launched an active investigation into Tether.

Tether further lauded Bloomberg’s report on it, noting that Tether repeatedly showed its need to be heard in the market without any understanding.

Pixabay featured Image, Charts from Tradingview

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