**Tether Whale Transactions and Volume Are at High Values Right Now**
As per the on-chain analytics firm Santiment, Tether (USDT), the leading stablecoin in the market, has experienced a significant surge in activity. This surge is reflected in the trading volume and whale transaction count metrics.
The trading volume measures the total amount of USDT involved in spot exchange trades on a daily basis. Meanwhile, the whale transaction count tracks the number of transfers carrying a value of at least $100,000 within the network. Both these metrics have shown relatively high values lately, with the stablecoin currently seeing 40,000 weekly whale transactions and $50 billion in daily volume.
In the context of Bitcoin, the surge in Tether activity could potentially indicate investors’ interest in transferring the stablecoin for assets like Bitcoin. This pattern is similar to what was observed in March, just before Bitcoin experienced a 50% rally.
Bitcoin has seen a 2.5% jump in the past 24 hours, bringing its price back above $37,000.
Source: [Santiment on Twitter](https://twitter.com/santimentfeed/status/1725025714993508555)
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