Tether (USDT), the largest stablecoin by market cap, experienced a surge at the start of this week, reaching a two-month high in terms of transaction
Tether volume more than doubles as top whales accumulate USDT amid ETF mania volume. Tether's volume soared from $12 billion to an impressive $47 billion in just one day. The increase was due to the market fervor that occurred due to false news surrounding a spot Bitcoin ETF approval. Tether witnessed a rise in volume with Santiment highlighting that its on-chain volume hit a two-month high.
Bitcoin approached $29K again on Wednesday morning, enjoying increased demand after breaking above the 200-day moving average and the former resistance line of the ascending channel. There is now an active battle for the 200-week level, with consolidation above it at the end of the week likely to encourage further buying. XRP whales emerge after Ripple IPO rumors resurface The XRP community is abuzz with speculation as Ripple's IPO rumors have resurfaced.
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