According to Glassnode data, USDT fell to the lowest monthly trading volume level in the past 24 hours. The last time volume traded at this level was in mid-January.
Around the same time, the cryptocurrency market began to experience a surge in volatility. Despite the decline in trading volume, USDT is still participating in significant trading activity.
The latest on-chain transaction flow shows a net USDT inflow of $84.4 million. This means that it has seen more inflows than outflows over the past 24 hours.
Also, the number of receiving addresses was 68,969 addresses in the last 24 hours. There are 52,675 sending addresses.