USDT volume on exchanges up 20 in 3 months

The ratio of Tether (USDT) on exchanges is up 20% in the last three months, according to Santiment data. The market intelligence platform tweeted that the ratio went from 19.7% on May 9 to 42% as of August 10. It is the first time USDT supply on exchanges will increase to over 42% since April 2020. According to Santiment, this is a sign of 2-year high buying power and also shows that traders have taken profits as the crypto markets rebounded. In the last three months, USDT’s supply declined as investors redeemed the token during the thick of the bear market.