There’s a logic here: those who made money this cycle. At this point, it’s unlikely for big funds to go all-in on spot altcoins, and $BTC isn’t at a good buying price either. Investing in seed rounds might only see TGE in the next cycle, so where should the $USDT in hand go? Could the stablecoin staking sector have a wave of localized action, like Luna at the end of the last bull run?