超過 10 億美元的 USDT 從交易所撤出，創下 5 月以來最大規模的 Tether 流出

昨天，加密市場發生了一件大事：超過10億美元的USDT從交易所撤出，這是Tether自5月以來最大規模的流出。

Over $1 billion in USDT was withdrawn from cryptocurrency exchanges on Monday, marking the largest Tether outflow from exchanges since May, according to data from IntoTheBlock.

根據 IntoTheBlock 的數據，週一，超過 10 億美元的 USDT 從加密貨幣交易所撤出，這是自 5 月以來交易所最大的 Tether 資金流出。

Usually, large deposits on cryptocurrency exchanges are seen as bullish, as they indicate that users are preparing to buy digital assets. Conversely, withdrawals can be interpreted in a more nuanced manner.

通常，加密貨幣交易所的大量存款被視為看漲，因為它們表明用戶正準備購買數位資產。相反，提款可以以更細緻的方式解釋。

One possibility is that users are transferring their funds to decentralized finance (DeFi) platforms in order to obtain higher yields, which are not available on centralized exchanges. This trend highlights the increasing appeal of DeFi as a viable option for earning returns on digital assets.

一種可能是用戶將資金轉移到去中心化金融（DeFi）平台以獲得更高的收益，而這是中心化交易所無法提供的。這一趨勢凸顯了 DeFi 作為賺取數位資產回報的可行選擇的吸引力與日俱增。

However, another angle to consider is that, historically, when withdrawals exceed $1 billion, Bitcoin has often entered a downtrend shortly afterwards, according to IntoTheBlock’s analysis.

然而，另一個需要考慮的角度是，根據 IntoTheBlock 的分析，從歷史上看，當提款超過 10 億美元時，比特幣往往很快就會進入下跌趨勢。

This pattern suggests that investors might be adopting a more cautious, risk-off approach, moving their assets to safer environments like cold wallets. Such a shift typically signals an anticipation of market volatility, as traders prepare for potential downturns by securing their funds in less risky locations.

這種模式表明，投資人可能會採取更謹慎、規避風險的方法，將資產轉移到冷錢包等更安全的環境。這種轉變通常預示著市場波動的預期，因為交易者透過將資金存放在風險較小的地方來為潛在的經濟低迷做好準備。

Adding to the complexity of the matter is a recent report by Lookonchain, which states that a major crypto market maker, Cumberland, has been credited with injecting 1.04 billion USDT into the crypto market over the past eight days.

Lookonchain 最近的一份報告讓事情變得更加複雜，該報告指出，主要的加密貨幣做市商 Cumberland 在過去 8 天內向加密貨幣市場注入了 10.4 億美元。

On Monday alone, Cumberland reportedly received an additional 141.5 million USDT from the Tether Treasury, which was then transferred to major cryptocurrency exchanges such as Kraken, OKX, Binance, and Coinbase.

據報道，僅在周一，Cumberland 就從 Tether Treasury 額外收到了 1.415 億 USDT，然後將其轉移到 Kraken、OKX、Binance 和 Coinbase 等主要加密貨幣交易所。

Furthermore, Tether Treasury minted another 1 billion USDT on the Ethereum network on Monday, bringing the total amount minted over the past year to 32 billion USDT, according to data from Etherscan.

此外，根據 Etherscan 的數據，Tether Treasury 週一在以太坊網路上又鑄造了 10 億 USDT，使過去一年的鑄造總量達到 320 億 USDT。