Over the past 24 hours, several crypto market making firms have deposited $100 million worth of stablecoins to exchanges including Binance, OKX, Bybit, and OSL, on-chain analyst The Data Nerd reported via Twitter. An address believed to be Wintermute deposited 42 million USDT, an address believed to be Animoca Brands deposited 16.75 million USDT, Flow Traders deposited 34.12 million USDC and a whale address known as Carrot_BTC deposited 6.9 million USDC. Market makers provide liquidity to exchanges by placing buy and sell orders for different cryptocurrencies. By depositing stablecoins to exchanges, market makers can increase their trading capacity and meet the demand of traders. The influx of stablecoins from market makers could also contribute to increased trading volume and volatility in the cryptocurrency market. It's worth noting that the market maker deposits come at a time when the cryptocurrency market is showing signs of recovery. Bitcoin and other major cryptocurrencies have experienced a sharp rally in recent weeks, with Bitcoin rising above $20,000 for the first time since November 2022. The market maker deposits could be a sign that market makers are confident in the market's recovery and are positioning themselves for further gains.