Bitcoin (BTC) climbed above $3,900 on Friday, setting expectations for a weekend rally. Altcoins managed to post stronger gains, with separate weekly growth spurts doubling the prices of a handful of assets.
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In the past week, the share of Tether (USDT) increased to as much as 79% of all BTC activity and hovered around 77% on Friday. This ratio shows that the stablecoin is the chief source of liquidity on crypto markets, affecting both BTC and altcoins. BTC volumes remain high at the equivalent of $9.9 billion, twice the usual level of $5 billion that persevered for months. This time, however, BTC is even more dependent on USDT.
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