Recently, the movement of USDT has become the focus in the cryptocurrency market. HTX exchange once again massively withdrew USDT from the Aave platform, with this withdrawal amounting to $600 million, causing the USDT deposit rate on Aave to surge to 19.5%. This is the second large-scale operation by HTX in a short time, with the previous withdrawal of $570 million on June 5th pushing the rate up to 30% and attracting arbitrage funds. These operations highlight the significant impact of centralized exchanges on DeFi liquidity. On the other hand, DeFi platform competition is intensifying. Huma Finance announced that its upgraded platform Huma 2.0 will reopen deposit functions at 10 AM UTC on June 10th, with HUMA token holders gaining access 24 hours in advance. The deposit limit is calculated by dividing the pledged HUMA quantity by 25, equivalent to a dollar amount corresponding to each HUMA token. This comes just three months after its Token Generation Event (TGE). Meanwhile, BounceBit launched a $1 incentive plan aimed at attracting new users, reflecting DeFi platforms' efforts to provide low-risk yield opportunities for stablecoin holders. These developments demonstrate the continuous innovation in the cryptocurrency ecosystem, with institutional and individual investor participation being reshaped.
Huma Finance Restarts 2.0 Version Deposit Function; BounceBit Launches $1 Incentive Plan
Huma Finance announced that its upgraded platform Huma 2.0 will reopen deposit functions at 10 AM UTC on June 10th. Users staking HUMA tokens can gain access 24 hours in advance. The deposit limit is calculated by dividing the staked HUMA quantity by 25, equivalent to a $1 quota for each staked HUMA token. This comes as the second quarter activity three months after confirming the Token Generation Event (TGE).
Simultaneously, BounceBit launched a $1 incentive activity aimed at attracting new participants. This measure reflects the increasingly fierce competition among DeFi platforms to provide low-risk yield opportunities for stablecoin holders.
HTX's Large-Scale USDT Withdrawal from Aave Triggers Rate Surge to 19.5%
HTX again executed a large-scale USDT withdrawal from Aave, removing $600 million USDT, causing the platform's deposit rate to surge to 19.5%. This action is similar to the June 5th operation, when HTX withdrew $570 million USDT, driving the rate up to 30% and attracting arbitrage funds.
HTX's repeated large-scale fund movements highlight the exchange's growing influence on decentralized financial liquidity dynamics. Such actions cause volatility in the lending market, bringing opportunities and risks for yield-seeking investors.
Airwallex CEO's Criticism of Stablecoins Sparks Strong Backlash from Crypto Community
Airwallex CEO Jack Zhang's public skeptical attitude towards stablecoins has sparked intense debate in the cryptocurrency ecosystem. The cross-border payment executive questioned stablecoins' ability to reduce forex conversion costs, stating he sees no value proposition for stablecoins in Euro-USD transactions requiring traditional bank settlement.
The crypto community quickly countered, presenting arguments about on-chain settlement efficiency, payment freedom in emerging markets, and progressive regulatory compliance. This conflict is not just an ideological difference but reveals the challenge of how stablecoins are evolving from crypto-native tools to challengers of traditional financial infrastructure.
Market participants noted that this event highlights stablecoins' accelerating penetration into core financial workflows. These once-niche tools are disrupting traditional cost structures and clearing mechanisms, directly threatening intermediary revenue streams in forex and cross-border payments.
Analyst Warns: Bitcoin's $120,000 Potential Depends on US Tariff Policy
Swyftx Chief Analyst Pav Hundal predicts that Bitcoin could surge to $120,000 this month if US tariff uncertainty is favorably resolved. The Federal Reserve's May 7th resolution to maintain interest rates in the 4.25%-4.50% range reflects concerns about inflation and rising unemployment, creating headwinds for risk assets.
Hundal warns: "Delayed monetary easing could strangle economic growth" and points out that policymakers are waiting for hard data on Trump-era tariff impacts. The analyst recommends cloud mining platforms as a hedge against market volatility, specifically mentioning an Australian service offering daily withdrawals for nine cryptocurrencies including BTC, ETH, and XRP.
The platform provides enterprise-level security through McAfee and Cloud Flare, offering zero-fee operations and tiered referral rewards. As traders seek stability amid macroeconomic headwinds, this defensive strategy is gaining attention.
Tether Increases 1 Billion USDT on TRON Blockchain for Reserve Replenishment
According to Whale Alert monitoring, Tether Treasury increased $1 billion worth of USDT on the TRON blockchain at 17:21 Beijing time. The transaction was marked as a "authorized but unissued" reserve replenishment. Tether CEO Paolo Ardoino clarified that these funds will be used for future issuance requests and on-chain redemptions.
This move demonstrates Tether's continued dominance in the stablecoin market, maintaining liquidity through cross-chain strategic allocation. This reserve replenishment follows the standard fund management practices of stablecoin issuers to ensure market demand is met.
The Future of Stablecoins and the US Dollar: A Double-Edged Sword
CICC Macro Team's Zhou Junzhi and Tian Yulong point out that stablecoins are unlikely to alleviate US dollar or US debt pressure in the short term. The total scale of stablecoins is negligible compared to the US debt market, with minimal immediate impact. The key lies in whether stablecoins can transcend their current role as a bridge between centralized and digital currencies.
The post-pandemic geopolitical landscape has intensified scrutiny of US credit assets. Fiscal loosening and tariff wars have raised concerns about the stability of the US dollar-dominated financial system. More and more payment behaviors are migrating from traditional systems to digital alternatives like Bitcoin. Stablecoins' hybrid characteristics might either strengthen US dollar hegemony or accelerate its decline.
Recently, regulators have focused on strengthening the stability mechanism of stablecoins - establishing market trust is crucial. In the long term, stablecoins may help legal tender (such as the US dollar) ride the Bitcoin wave and potentially blur the boundaries between centralized and decentralized finance. However, cautious expectations should still be maintained at present.
