The giant cryptocurrency whale Tether (USDT) once again withdrew hundreds of millions of dollars from its treasury and transferred it to the exchanges.
The Tether-loving whale turned to the company’s treasury again. Reported by on-chain analysis platform Lookonchain to data according to January 3 The whale that took action on the day was taken from the Tether treasury 182 million USDT took.
Shortly after the acquisition, these assets were transferred to a US-based kraken And coinbase It is thought that the whale who transferred the money to cryptocurrency exchanges such as Bitcoin is an institutional investor who sees spot Bitcoin exchange traded fund (ETF) applications as an opportunity.
same whale 20 October 2023 total from Tether treasury since date 2 billion USDT taking and the vast majority of it to Binance He had deposited it. The cryptocurrency market has also gained a significant amount of value since October 20, when the whale started buying. Only Bitcoin since then more than 50% experienced an increase.
The rises and increasing demand in the cryptocurrency market also had a positive impact on the Tether front. The market value of the company will increase significantly in 2023 to record level rose. According to CoinGecko data, Tether is currently 92 billion dollars has a market value.