Not only the main wallet, Abraxas Capital sub-wallet continues to transfer stablecoins to the exchange.
40 minutes ago, they transferred 53M $USDT to #Binance
This $USDT reserve comes from the withdrawal from the#Krakenexchange a few days ago.
Perhaps they are smelling something in the market in the coming weeks to activate large volumes of Stablecoins hastily like in recent days.
Within 3 days, more than 124M $USDT & $USDC were deposited by Abraxas Capital on the exchange. It is entirely possible for the market to adjust so that these big guys can have a good position.
But remember that the majority of these Stablecoins are borrowed from pledging large amounts of $ETH on Spark at Health Rate 1.5 and if they dump 35-40% they will be liquidated.
With a big timing player like Abraxas Capital, it is very difficult for them to allow this to happen.
Identifying the main trend as Bull with short-term corrections is both an opportunity and necessary to create a solid price foundation for the next years of crazy Bull runs.
Currently the sub-wallet is holding 25,497 stETH ($92M) which they can continue to use as collateral to borrow Stablecoins.
