Tether [USDT]: Millions worth of tokens transferred to Binance as the market continues to fluctuate

The cryptocurrency market movements have dictated bearish straights and the price movements, and despite the price falls lately, it seems the magnitude of transfers is not changing anytime soon. As per Whale Alert, a crypto data aggregator, over 15 million was transferred from an unknown wallet to Binance today.

The whale transfer amounted to 15.993 million with a timestamp of today (28th October 2019) at 02:47 UTC. The Tron blockchain-based transaction had a hash of 18b354d4190640517a5337b0d6e7c6f1441bcc3aa840e5e6986049f2854d2350. The owner’s address was TNMDwbHyAQo38tK4fCYe4ooSZXesbK8ExZ with a contact address at TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t.

The sender wallet’s address was TNMDwbHyAQo38tK4fCYe4ooSZXesbK8ExZ and it had some additional funds such as BTT and COSMO tokens. The receiver wallet held an address of TAUN6FwrnwwmaEqYcckffC7wYmbaS6cBiX. The wallet was home to a multitude of other tokens such as Tron, BitTorrent, USDT, and WINK. The wallet had 245 million TRX, 24 billion BTT, and 42.470 million USDT in its kitty.

Although its mixed reputation back in the United States, the world’s largest stablecoin had excellent support in China. This was followed by Tether announcing that it will support the offshore Chinese Yuan [CNH] with the launch of the CNHT stablecoin. Tether’s official release had claimed:

“We are pleased to announce the addition of offshore Chinese yuan (CNH) to our basket of supported currencies, and the launch of a new stablecoin, CNH₮.

CNH represents a further expansion of Tether’s capabilities in facilitating the digital use of traditional currencies, such as US dollar (USDT) and euro (EURT).

CNH₮ is pegged to CNH, and will initially be available only on the Ethereum blockchain as an ERC-20 token.”

Back in the United States, Tether was still dealing with the repercussions from the Bitfinex scandal, with the cryptocurrency organization also releasing a confirmed receipt of prepayment on the loan facility from Bitfinex. The official statement from the company read:

“Tether confirms that on July 1, 2019, it received $100,000,000 in fiat as prepayment on the outstanding loan facility from Bitfinex in its bank account. Tether also confirms that it has received all interest accrued under the loan facility in fiat due to it up to the end of day on June 30, 2019.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.