100 Million Tether Transferred from Bitfinex to Huobi

Whale Alert, a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term tracking and analytics company, reported an approximate $100 million Tether (USDT) transaction between Bitfinex and Huobi exchange on 15 December.

According to the details mentioned by the company, the transaction was executed on the Ethereum blockchain where Bitfinex moved 99.9 million Tether to Huobi exchange with a small transaction fee. Further, the recent transaction came after an anonymous user moved 32,353 Bitcoin, worth approximately $620 million on Sunday.

Notably, Tether is a stablecoin used by the crypto community. In terms of value, Tether’s market cap has jumped from $4 billion in December 2019 to nearly $20 billion in December this year. However, the price has been stable at around $1.

The Tether community terms USDT as a stable value cryptocurrency that combines the unrestricted nature of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term with the stable value of the US Dollar. Apart from being a store of value, Tether has been used to buy other cryptocurrencies as well. For example, the recently launched token WOZX by the Co-founder of Apple, Steve Wozniak listed on the HBTC exchange can only be purchased through Tether stablecoin.

Tether Transactions

In addition to the above-mentioned transaction, Whale Alert pointed out a 120 million USDT transfer from Bitfinex to Tether treasury. Moreover, the analytics company pointed out 200 million USDT minted at Tether treasury. Although, the recent transactions indicate increased activity in USDT as investors and exchanges are planning to move large amounts in anticipation of enhanced volatility in the crypto market in coming months.

In terms of Bitcoin, Whale Alert mentioned a transaction of 8,198 Bitcoin from a crypto exchange Bitstamp to an unknown wallet on 15 December. Another transaction of around 3,213 BTC was executed on 14 December from Bithumb to an unidentified crypto wallet. Bitstamp has been involved in several prominent crypto transactions recently. Finance Magnates earlier reported about a transaction of 40 million XRP to Bitstamp from an account that has been dormant since 2013.