Bitcoin (BTC) price struggled to overcome $40,000 resistance over the weekend and is currently trading just above $38,000. At a time when BTC is hovering at a 40% discount from all-time highs, whales have started accumulating more stablecoins.
According to data from Santiment, stablecoin whales with wallet holdings of 10,000 to 10 million Tether (USDT) have accumulated over $1 billion in buying power in the past month. The data indicates the buying power of these whales increased by over 7% in just one month.