Tether's (USDT) 24-hour trading volume reached $31.4 billion, surpassing Bitcoin's $20.3 billion. The high stablecoin volume stems from its role as a base pair in trading rather than investment demand, with bots, arbitrage, and exchange activity driving much of the transactions. As a result, the volume reflects overall market activity more than actual demand for the coin itself.
This item was indexed from its published source and tied to the entity records it names. The Counterparty reports what the market says and who it says it about; it does not rewrite the original report. Read the source for the full account.