Massive crypto whale activity in USDT and USDC hints at an impending bull run, how?

Volatility is one of the distinguishing features of the cryptocurrency market, surprising some observers. It creates an ideal environment for traders and investors in the cryptocurrency industry to make huge profits.

The cryptocurrency market has largely experienced the presence of bulls over the past week. Most crypto assets have seen an impressive recovery in value. Most tokens were forced to break their resistance and push further north. This pushes the cumulative market capitalization to the coveted $1 trillion.

But this week has calmed the trend in the cryptocurrency market. As such, many cryptocurrency analysts are now watching to spot the next likely move in the market. They focus on recent activity in some major stablecoins such as Tether (USDT) and USD Coin (USDC).

Cryptocurrency markets brace for upcoming volatility

According to on-chain data, stablecoins USDT and USDC have witnessed massive whale activity. Such high-value trades indicate the potential for significant volatility ahead.

On-chain data provider Santiment noted in its report that whales have been heavily engaged in cryptocurrency activity since Monday after volatility over the weekend. It reported that the most significant Crypto assets traded by whales over $100,000 were stablecoins USDT and USDC.

As greater purchasing power comes into play, the result will be a major market movement. Therefore, the market will experience volatility going forward.

Based on current market conditions and its recent rebound, a more positive outcome is expected. Speculation is that the bull run in the cryptocurrency market will continue as whales increase their Crypto asset buying spree.

At the time of writing, the total market cap is $970 billion, indicating a surge over the past 24 hours. The trading volume of all stablecoins was $81.19 billion, accounting for about 92.76% of the 24-hour cumulative trading volume of the Crypto asset market.

Massive crypto whale activity in USDT and USDC hints at an impending bull run, how?
The cryptocurrency market is worth $970 billion Source: Total cryptocurrency market capitalization on

US DOJ plans to investigate Tether USDT?

The U.S. Department of Justice (DoJ) has pushed ahead with plans to investigate Tether USDT after the past few months of silence. The new move complies with bank fraud charges against Tether executives.

U.S. Attorney Damien Williams for the Southern District of New York will lead the investigation into the Justice Department, according to Bloomberg.

The issuing company of USDT revealed that it has maintained close cooperation with the US Department of Justice for a long time. But said its executives had not spoken to the Justice Department since this year. The agency has reportedly launched an active investigation into Tether.

Additionally, Tether touted Bloomberg’s report on its company, saying it has repeatedly shown desperation for industry focus without proper understanding.

Featured image from Pixabay, chart from Tradingview

Source of information: Compiled from BITCOININSIDER by 0x information.The copyright belongs to the author Anonymous, and may not be reproduced without permission

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