In this July, every time 1 billion USDT is minted, the price of $ETH has continuously been pushed up right after. From $2500 on July 4th until now, $ETH has increased by over 50%. (Additionally, the amount of $USDC minted is also very large).
It is possible that the adjustment phase is over and we will continue to see $ETH reach new highs in the coming days, leading to a resurgence in Altcoins.
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