Billions Flowed from Tether Treasury to Binance! What is the reason?

0

According to the information received, approximately 1 billion dollars was printed from the Tether Treasury and sent to Binance. As Kriptokoin.com, we will focus on the details of sending USDT worth 1 billion dollars from Tether to Binance.

Notable transaction from Tether Treasury

Amid the current market crash, $1 billion worth of USDT was transferred from Tether Treasury to Binance. The last few days have been particularly devastating in both the cryptocurrency and traditional financial markets. During Saturday’s trading session, the price of Bitcoin (BTC) fell as low as around $34,000 on Binance and is currently trading at around $35,000 and is struggling to hold above that level. Now, Whale Alert has detected that $1 billion worth of USDT has been transferred from Tether’s treasury to Binance. According to the latest data shared by Whale Alert, which shares important statistical information on the blockchain, on Twitter, the amount of USDT printed by Tether is exactly $ 1,004,820,179. This printed USDT led to a stir in crypto money investors; because USDT printing is usually correlated with Bitcoin (BTC) price. After the $1 billion USDT print, there are many who believe that the value of Bitcoin will increase.

There were also explanations about what Tether is. Within minutes, Tether will coordinate with a 3rd party to perform a chain swap that converts from Tron TRC20 for 2D USDT to Ethereum (ETH) ERC20. The total supply of Tether will not change during this transaction. This means that Tether does not print new USDT and only distributes money from Tron to Ethereum (ETH) and sends it to Binance.