, got impacted severely. Due to the FUD caused by this, USDT could capture a large amount of market share in the stablecoins sector.As the overall profits generated by Tether, its parent company, skyrocketed, much of these earnings were allocated to buying U.S. treasury bills. However, there were other avenues where Tether invested. A huge amount of their earnings were invested inIn Q1 alone, Tether acquired 52,670 BTC.
The U.S. government’s decision to sell these holdings has caused massive amounts of FUD in the market, with many traders believing that these sell-offs could drive down the price of BTC. However, if Tether continues its bullish behavior, there may be a possibility that the impact of U.S government’s actions could be negated in the future.At press time, there wasn’t a lot of selling pressure on Bitcoin, as addresses in profit had declined and reached one-month lows. This indicated that many addresses currently holding BTC did not have a large incentive to sell their holdings.
Source: Digital Coin News (digitalcoinnews.net)
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