According to Tuesday post by when Alert, the account that tracks the main cryptocurrency transfers, was 100 million tension (USDT) symbols transfer On Ethereum Blockchain from Tether Treasury, the Stablecoin central wallet, to Excination Bitfinex.
This step led to some Speculation About the potential liquidity injection that is performed by Tether.
A similar transfer of $ 127 million was transferred last week on June 27. On June 25, $ 148 million was sent to an unknown wallet.
Series swap event
The last treatment has been displayed by $ 100 million, which is sent from BitFinex to Tether Treasury on TON Blockchain.
Thus, this recorded step on Tuesday is likely to exchange the chain, which includes the transfer of USDT from Blockchain to another. BitFinex was an intermediary.
During the chain exchange events, USDT is sent on Blockchain to the cabinet, which means “burning”. In this case, the Bitfinex 100 million Usdt has returned Tron -based Treasury before release 100 million Usdt document to ETAREM to Bitfinex.
This step is likely to balance the liquidity between the chains to meet more user’s demand for ETHEREUM.
Meanwhile, according to Cryptoquant, the TRON Defi activity grows at a rapid pace, with liquidity “Deepening fasting.”
Tether mining boom
On June 22, Tether classified a total of two billion symbols in Tether Treasury. Other tender events took place on June 18.
According to the data provided by Coingecko, the total market value of the United States of America is currently $ 157 billion.
