Time is running out before the US stock market opens. In the past few hours, Yi Lihua's Trend Research has been frantically depositing ETH into Binance for a sell-off, then using the proceeds in USDT (the stablecoin equivalent of USD) to repay on-chain loans. Those who leveraged their investments to buy cryptocurrencies in the previous round are now selling to deleverage in this wave of liquidation.
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