Not loud, but the money flow is choosing #Ethereum
Yesterday, the Bitfinex wallet address minted 105M $USDT from #Tether – a notable figure at this time.
However, checking the source shows that Bitfinex is swapping $USDT from #Avalanche to #Ethereum, not minting directly on Ethereum.
Bitfinex does not frequently mint USDT, with the last time being on May 11 – also swapping from Avalanche to Ethereum.
The continuous transfer of USDT from Avalanche to Ethereum by Bitfinex during sensitive market times indicates that ETH remains a "safe haven" for institutional stablecoins, where they prioritize maintaining liquidity and executing large transactions.
The historical behavior of the Bitfinex wallet also records: each time USDT is brought back to ETH often coincides with major volatility phases, such as distribution or rebalancing of capital flows.
Although the chain swap action does not directly affect the price line, through this we can see that the money flow is being directed towards the $ETH system. This is positive information for the #Ethereum ecosystem.
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