USDT Treasury Moves $229,956,875 to Bitfinex as BTC Rallies Back to $42k

• Tether transferred $230 million worth of USDT tokens to Bitfinex.
• The significant USDT inflow to the renowned exchange sparked bullish sentiments.
• This transfer comes amid the relief rally in the crypto market after weeks of downturn.

In a significant transaction that has sparked interest across the crypto community, Tether’s Treasury has initiated a transfer of multi-million dollars’ worth of USDT tokens to the renowned exchange, Bitfinex.

According to data shared by Whale Alert, a prominent tracker of large crypto transactions, the transfer involves a staggering 230,000,000 USDT. The transaction was valued at approximately $229,956,875 at the time of the disclosure.

230,000,000 #USDT (229,956,875 USD) transferred from Tether Treasury to #Bitfinexhttps://t.co/5YJgQfycJA

— Whale Alert (@whale_alert) January 26, 2024

While not unusual, this move draws attention due to its substantial volume and implications for market dynamics. Specifically, Whale Alert’s tweet has garnered over 181,500 engagements at the time of reporting. 

An X user remarked, “Moon is waiting for us,” …

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