I think using USDT.D to mark general crypto tops and bottom is an underrated tool...
Tether has a $68 billion market cap as of today (10/5/2022) which ranks as #3 behind Ethereum and Bitcoin.
Tether also has $44 billion volume in the last 24 hours (10/5/2022) which ranks #1 and USDT is consistently #1 in volume.
Bitcoin: $386 Billion Market Cap and $36 Billion 24 hour volume
Ethereum: $165 Billion Market Cap and $10 Billion 24 hour volume
Solana: $12 Billion Market Cap and $737 Million 24 hour volume
Tether: $68 Billion Market Cap and $44 Billion 24 hour volume
I think USDT.D breaks down from this general area and marks a short term cryptocurrency bottom, will update when we get a clear move.
Tether has a $68 billion market cap as of today (10/5/2022) which ranks as #3 behind Ethereum and Bitcoin.
Tether also has $44 billion volume in the last 24 hours (10/5/2022) which ranks #1 and USDT is consistently #1 in volume.
Bitcoin: $386 Billion Market Cap and $36 Billion 24 hour volume
Ethereum: $165 Billion Market Cap and $10 Billion 24 hour volume
Solana: $12 Billion Market Cap and $737 Million 24 hour volume
Tether: $68 Billion Market Cap and $44 Billion 24 hour volume
I think USDT.D breaks down from this general area and marks a short term cryptocurrency bottom, will update when we get a clear move.