[mosheroperandi]

The different volumes could reflect that folks have started to lose trust in Tether vs USDC, and so Tether is used as a big liquidity pool to move between different positions, but no one's endeavoring to hold big Tether positions for longer than necessary. Whereas USDC might be the preferred parking place when folks actually want to spend some time out of market without fully leaving the casino.

I don't know if that's actually true.