$1.4B USDT Enters Binance as Liquidations Plunge 98%

Market Overview - The cryptocurrency market experienced a significant decline, losing approximately $400 billion in value within 24 hours on October 11, leading to a drop in market sentiment from a neutral zone of over 50 to a current level of 31, indicating fear and uncertainty among investors [3][4] - Following the selloff, the market is witnessing a modest recovery, with Bitcoin and Ethereum showing small gains, rising from $109,715 to $111,530 and from $3,650 to $3,830 respectively [4] Stablecoin Inflows - In the past 24 hours, cryptocurrency traders deposited 1.4 billion USDT tokens via ERC-20 to Binance, contributing to a total of $1.81 billion in USDT deposits into centralized exchanges [1] - An increase in stablecoin inflows is often seen as a signal for potential accumulation of Bitcoin and altcoins, suggesting a possible market recovery if momentum continues [5] Liquidation Trends - Cryptocurrency liquidations reached a record high of $19.35 billion on October 11 but have since declined by nearly 98%, dropping to $507 million over the past day [2] - The decline in liquidations typically leads traders to await a market catalyst, which can result in decreased volatility [2]