Tether Whale Watchers Find Unsuccessful Attempt to Move $46 Billion Worth of USDT
Massive transactions are not something new to crypto traders. This is why nobody is surprised when the so-called whales, who are investors with huge amounts of cryptos, are active. A profile specialized in finding big transactions, Whale Alert, has recently affirmed that a huge Tether (USDT) transaction was spotted.
Initially, the profile reported that someone moved 46,140,337,592 USDT tokens (around $46,16 billion USD) to another wallet. However, it was soon discovered that the transaction did not actually go through. The profile lacked the funds to make such a transfer.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 46,140,337,592 #USDT (46,169,056,069 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) August 26, 2019
A Whale Or A Mistake?
The presence of whales is so prominent in the market that nobody is actually surprised when insanely high transactions happen. This time, however, it seems that people might have been too eager to affirm that it was actually a whale behind the trade.
For instance, there is simply not 46 billion USDT tokens in existence. In fact, their actual number is much more close to 4 billion USDT. This means that it is not possible that a person would actually hold that much money.
This prompted some people to affirm that the transaction was fake, while another affirmed that the block explorer could not lie or argued that a country was actually buying USDT.
Whale Alert ended the discussion by affirming that the invalid transaction only appeared on the profile because the system took some time to recognize that it was fake.