Onchain activity for Tether (USDT) has reached a six-month high, suggesting that traders may be positioning themselves to enter the market. Tether's increased usage typically occurs during price drops, which could indicate forthcoming buying pressure and a potential recovery in cryptocurrency prices. Analysts, including Vincent Liu from Kronos Research, highlight that traders accumulate USDT during dips as a strategic move, often influenced by economic uncertainties and crypto-specific events. Additionally, the recent easing of inflation to 2.8% may provide a more favorable environment for crypto assets. Tether CEO Paolo Ardoino noted that many USDT users utilize the stablecoin as a savings account, particularly in regions where traditional banking is less accessible. The importance of Tether as a stablecoin continues, especially amid broader concerns about the US dollar's dominance. The upcoming Federal Open Market Committee (FOMC) meeting may further influence market dynamics.

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