Based on a Tuesday publish by Whale Alert, the account that tracks main cryptocurrency transfers, 100 million Tether (USDT) tokens had been transferred on the Ethereum blockchain from Tether Treasury, the central pockets managed by the stablecoin issuer, to the Bitfinex change.
The same switch of 127 million USDT happened final week on June 27. On June 25, 148 million USDT was despatched to an unknown pockets.
The latest transaction was preceded by 100 million USDT being despatched from Bitfinex to Tether Treasury on the Tron blockchain.
Therefore, the transfer recorded on Tuesday is most certainly a sequence swap, which entails transferring USDT from one blockchain to a different. The Bitfinex change was appearing as an middleman.
On June 22, Tether minted a complete of two billion tokens on the Tether Treasury. Different main minting occasions happened on June 18.
Based on the information offered by CoinGecko, the entire market cap of USDT at present stands at $157 billion.