[Crypto Newsflash]: 12.9 Million Tether (USDT) Tokens Were Transferred To Bitfinex
USD pegged token Tether has the same founders as crypto exchange Bitfinex. An overwhelming majority of Tether passes through the crypto exchange which has incubated a variety of conspiracy theories.
Earlier this month BitcoinExchangeGuide had reported that on consecutive days $100 million Tether and $40 million was sent to Bitfinex. Today, similar transactions were reported again.
— Whale Alert (@whale_alert) September 25, 2018
It was reported that an unknown person transferred over 12 million Tether tokens to the crypto exchange. The trading volume of the tokenized US dollar has increased by about $12.9 million. Despite this fact, the exchange rate of the cryptocurrency was not affected in any way, it increased by 0.24% within the last 24 hours.
Even though in the past these events haven’t manipulated the price much, many crypto experts argue that this event could positively influence the crypto market and Bitcoin. It is surprising to see transactions of such big magnitudes happening through anonymous individuals. These transactions by itself are worth 7% and 0.6% of the total Tether market cap respectively.
Notably, earlier this week popular Bitfinex critic Bitfinex’ed took to Twitter to claim that EOS conducted its ICO to bail out Tether. He further added that EOS and Tether have the same founders.