It appears that the massive increase in crypto prices, especially some altcoins like Solana has led to a major increase in USDT interest rates
The USDT interest rate – 20% + on 28 December 2023 for Binance users having less than 500 USDT
The real time APR changes every minute and was higher than 21% for some time.
It appears that a large number of crypto holders are converting their holdings into stablecoins like USDT
To reduce withdrawal, Binance has increased the interest rate, APR.
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