Abraxas continues to "cashout" 148 million USDT – A gloomy signal for the market?
Just one hour ago, the wallet address of #Abraxas unexpectedly transferred 147,900,000 USDT directly to #TetherTreasury – a move commonly seen when a big player wants to "cashout" from the market. This capital is believed to have come from withdrawing liquidity from DeFi protocols after Abraxas settled all loans on #AAVE and #Compound .
Since mid-February 2025 until now, Abraxas has withdrawn a total of 1.4 billion USDT – coinciding with the time when the altcoin market entered a strong decline, with many tokens losing 70-80% of their value. The fact that a large organization continuously withdraws money, while other funds remain "inactive", not adding more liquidity to the market, further reinforces the pessimistic sentiment.
In the context of escalating US-China trade tensions, the market is likely to continue to remain in a "pale-faced" state and lack growth momentum in the near future.