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<p>According to crypto tracking service Whale Alert, a massive 1,347,167,859 USDT (worth $1,347,457,501) was just <a href="https://twitter.com/whale_alert/status/1720347624744562900?s=20" target="_blank" rel="noopener noreferrer nofollow">transferred </a>from an unknown wallet to major exchange Binance.</p>
<p>When looking into the originating wallet, it still holds a significant amount of assets totaling around $350,000,000. The majority of its holdings, about 70% or over $240 million, is in USDT. It also holds around 15% or $50 million in USDC, over $40 million in TUSD, and about $5 million in other tokens.</p>
<h2 class="wp-block-heading" id="massive-stablecoin-movement-could-foreshadow-big-trade">Massive Stablecoin Movement Could Foreshadow Big Trade</h2>
<p>A transfer of this magnitude could signal that the wallet holder is preparing for a major purchase of cryptocurrency. Large stablecoin transfers to exchanges are often made by whales right before buying up huge amounts of other coins.</p>
<p>They may also be looking to cash out a portion of their stablecoin holdings into fiat currency. Or it could be funds are being moved for other reasons like staking on DeFi platforms.</p>
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<p>Whatever the reason, a $1.3 billion transfer of tether to Binance is an enormous movement of money that is likely to precede a major trade or transaction by a crypto whale. The market impact remains to be seen, but shifts of this size often foreshadow significant price action.</p>
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<p>The post <a href="https://captainaltcoin.com/whats-behind-the-1347000000-usdt-transferred-to-this-major-exchange/" rel="noopener noreferrer nofollow">What’s Behind the $1,347,000,000 USDT Transferred to This Major Exchange?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

What’s Behind the $1,347,000,000 USDT Transferred to This Major Exchange?

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