Whale Withdraws Another 96M USDT From Treasury: On-Chain Analysis
Lookonchain revealed in an X post today that a whale withdrew another 96 million USDT from the Tether Treasury. Read more on CE....
- A whale has withdrawn 96 million USDT from the Tether Treasury and deposited it into OKX, Kraken, and Coinbase.
- This whale has received a total of 992 million USDT from the Tether Treasury since October 20 and has deposited all of it onto exchanges.
- The latest withdrawal comes just 4 days after the whale's previous transaction.
- Similar transactions have occurred in the past, with the whale receiving 49 million USDT and 30 million USDT on separate occasions.
- Despite these withdrawals, USDT has maintained its peg to the Dollar, trading at $1.
- USDT has a larger market cap compared to its competitor USD Coin (USDC), with a total market cap above $88 billion.
- Traders and investors continue to trade with USDT, with a trading volume of $40.8 billion in the past 24 hours.
The article provides factual information about a whale's withdrawals from the Tether Treasury and the stability of USDT.