$BTC

What do these images tell us? 📸📸

From April 28 to May 3, Abraxas Capital and Cumberland took the entire "spotlight" minting $USDT (image 1)

Both of these funds are continuously minting stablecoins to serve their accumulation purposes. The amount has reached a record level over the past week

Specifically, Abraxas Capital alone has minted 1.3B $USDT, which is quickly being absorbed into the market. Over the past weekend, when the market price adjusted, Abraxas Capital also continuously withdrew the minted $USDT from #Kraken to the L&B wallet (image 2) to increase HR on the #AAVE platform, and then continued to borrow other types of stablecoins to deposit on #Binance, #Coinbase, and #Bitfinex

Once this $USDT is fully absorbed into the market, the current adjustment period will not last as long as previous adjustments.