Tether, the most popular valuable stablecoin by market capitalization, has been witnessing huge crypto transactions at record levels.
The latest development is that Tether whales moved 100 million USDT from different crypto exchanges to different wallets in less than 24 hours ago.
The largest of such transactions was captured by Whale Alert, an advanced blockchain tracker, and analytics system.
- At the time of writing this report, Tether traded at $1.00 with a 24-hour trading volume of $27,757,043,654.
- USDT price is up 0.3% in the last 24 hours. It has a circulating supply of 18 Billion coins and a max supply of 10.2 Billion coins.
What you should know
Stablecoins are used as quote currencies in crypto-asset trading pairs, far more than fiat currencies on most exchanges. Unsurprisingly, a large majority of stablecoin trading volume is dominated by Tether.
- There are more USDT (Tether) quote pairs in our coverage (out of the exchanges in our sample) than all other stablecoin trading pairs combined.
- The “Tether Treasury’s” USDT wallet has grown in recent times to become the top holder of the stablecoin, meaning that some crypto traders and investors may have managed to successfully withdraw their stakes from circulation.
- The removal of about 29% of the total volume of Tether in circulation has recently coincided with a huge depletion in the amount of Tether held in 2 USDT wallets separately owned by Huobi and Binance.