Santiment: Net daily outflow of USDT on the Ethereum chain of $1.29 billion

According to Santiment on the X platform, Tether (based on Ethereum) experienced its largest exchange fund outflow in nearly three months on Friday, with a net outflow of $1.29 billion (USDT). The report states that such large-scale outflows typically involve institutions or whales transferring funds to self managed wallets, DeFi protocols, or over-the-counter trading platforms. Santiment suggests paying attention to the market dynamics after the peak of capital outflows, and mentions that there was a $3.72 billion outflow on February 9th, followed by a slight correction in Bitcoin within two weeks.