Tether Treasury 2 Billion USDT Transfer to Whale: What is Going on?

• LookOnChain reported a Tether Treasury $182 million transfer to a giant whale. 
• Tether Treasury has transferred around $2 billion to the whale since October. 
• USDT maintains dominance over the stablecoin market with a market cap of $92B.

A series of Tether USDT transactions worth $182 million have been transferred from Tether Treasury to a giant whale, according to transfer receipts from LookOnChain, a web3 data analysis tool. 

In the post shared on X (formerly Twitter), LookOnChain reported that the recent transactions follow a slew of other transfers from Tether Treasury to the Whale. The data tracker noted that a flurry of transfers started in mid-October and has since continued into the new year. 

With the latest transfer, the total transfer to the Whale has now totaled around $2 billion USDT. The transferred USDTs, which have since prompted speculation, have been deposited on the cryptocurrency trading platform Binance. Due to the size of the transactions, several crypto users speculate that the unknown whale could be an institutional investor. 

Meanwhile, the recent transfers appear not to have affected the stablecoin’s peg to the dollar, with …

The post Tether Treasury 2 Billion USDT Transfer to Whale: What is Going on? appeared first on Coin Edition.