Coin supply on exchanges is declining, but USDT supply is on the rise.

There are definitely two sides to this coin. On the one hand, people seem to have learned from the recent disasters on the exchanges and are learning self-custody. The supply of BTC and ETH (as well as others) is falling to all-time lows. On the other hand, the not-so-beloved USDT seems to be on a field trip this year.

source: santiment @ Twitter / X

USDT got a lot of FUD and bad news last year and it seemed like it was losing ground to other stables, but now it's on the rise again. Even more – it's flowing back to the exchanges. This usually means that people are waiting on the sidelines and planning to buy crypto.

So do you think this is bullish? I certainly do.