Tether (USDT) worth a total of $ 404 million has been sent to the cryptocurrency exchange Huobi in the past few hours. Meanwhile, the stock market has denied all rumors of possible confusion.
Two of the transactions were sent from an unknown address with a total value of approximately $ 304 million, while another $ 100 million transfer was sent from Bitfinex.
404 Million Dollars Transfer
Popular twitter address Whale Alert, which tracks abnormally large transactions, reported the transactions today. He caught three transfers in the form of USDT, totaling over $ 400 million, all sent to the popular cryptocurrency exchange Huobi.
Interestingly enough, the first two transactions, worth about $ 304 million, were both sent from a single unknown address. The transaction was carried out using TRON’s network. The first was worth $ 100 million, the second $ 204 million.
The third transfer was made from Bitfinex to Huobi. This transaction was worth $ 100 million, increasing the total figure to USDT worth $ 404 million.
At the time of this writing, no further clarification has been made regarding the purpose of the funds. Bulls can guess that there is a positive sign that someone is planning to invest the money in Bitcoin or another cryptocurrency. On the other hand, the amount sent can also be used as security.