Ethereum-based Tether (USDT) recorded a net outflow of approximately 1.29 billion USDT on the 9th, marking the largest exchange net outflow in about three months, according to on-chain analytics firm Santiment. Santiment explained, “When stablecoins move off exchanges, it means investors are reallocating funds to self-custody wallets, DeFi, OTC markets, etc., rather than keeping funds on exchanges for immediate buying opportunities.” It added, “Such large-scale USDT outflows typically reflect fund movements by institutional or whale investors,” and analyzed, “It’s highly likely that the funds are being reallocated to build new positions rather than completely exiting the cryptocurrency ecosystem.”
