They Can Buy 280 Million Altcoins: 3 Giants Withdrew from Tether and Injected It into the Stock Exchanges!
Today, three major whales or institutions withdrew USDT worth a total of $278.7 million from the Tether treasury and transferred it to various exchanges.
According to the on-chain data analysis platform Lookonchain's post on Twitter on July 16, a total of $278.7 million worth of USDT was injected into the cryptocurrency market. There are three big whales or institutions behind these transactions.
Cumberland, one of the giants of the cryptocurrency market, took action again after a two-month break and took USDT worth 80 million dollars from the Tether treasury and deposited it in cryptocurrency exchanges Kraken, Coinbase and OKX. This move caused great activity in the market and attracted the attention of investors.
Additionally, an account with the “TQef1n” wallet withdrew $111.7 million worth of USDT from the Tether treasury and transferred it to the Kraken exchange. On the other hand, another giant wallet with the TQjqZ5 wallet similarly withdrew USDT worth 87 million dollars from Tether and deposited it in the Binance exchange.
It is thought that the transfers in question can be used to buy Ethereum or another altcoin.
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