2024

Bitcoin

Million

<p>The post <a href="https://coinpedia.org/news/institutions-pour-95-million-in-tether-into-exchanges-big-move-amid-market-dip/">Institutions Pour $95 Million in Tether into Exchanges—Big Move Amid Market Dip!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>With the global crypto market cap has <a href="https://coinmarketcap.com/" target="_blank" rel="noreferrer noopener nofollow">risen by 4.66% to $2.03 trillion</a>, although the total trading volume has decreased by 39.85% to $99.79 billion. Big investors have begun to put in more money, and there have been large transactions with Tether’s stablecoin, <a href="https://markets.coinpedia.org/tether/" target="_blank" rel="noreferrer noopener">USDT</a>.&nbsp;</p> 
<p>Meanwhile, Cumberland, a major player in the crypto industry, has injected 6.28B substantial funds into the crypto market since Oct 20, 2023.</p> 
<h2 class="wp-block-heading" id="h-cumberland-received-95m-usdt">Cumberland received 95M $USDT</h2> 
<p>According to Lookonchain, a prominent blockchain analytics platform, Cumberland, a major player in the crypto space, has received 95 million USDT from the Tether Treasury. Meanwhile, this large amount was then deposited into major exchanges like Coinbase, Kraken, OKX, and Forwarder.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Institutions have begun to inject funds into the crypto market and buy the dip!<a href="https://twitter.com/hashtag/Cumberland?src=hash&amp;ref_src=twsrc%5Etfw">#Cumberland</a> received 95M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> from <a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw">#TetherTreasury</a> and deposited it to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a>, <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw">#Kraken</a>, <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw">#OKX</a> and Forwarder today.<a href="https://twitter.com/hashtag/Cumberland?src=hash&amp;ref_src=twsrc%5Etfw">#Cumberland</a> has injected 6.28B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> into the crypto market since Oct 20, 2023.… <a href="https://t.co/sGIlP6E8aV">pic.twitter.com/sGIlP6E8aV</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1821070077820858840?ref_src=twsrc%5Etfw">August 7, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Cumberland’s activity highlights a growing trend among institutional investors to “buy the dip,” taking advantage of lower prices in the crypto market. Since October 20, 2023, Cumberland has injected an impressive 6.28 billion USDT into the crypto market. </p> 
<p>This ongoing investment shows their confidence in the long-term potential of digital assets, even with recent market ups and downs.</p> 
<h2 class="wp-block-heading" id="h-cumberland-s-massive-usdt-influx">Cumberland’s Massive USDT Influx</h2> 
<p>Cumberland recently received a substantial amount of USDT from the Tether Treasury. This isn’t the first time, as last month, on July 17, Cumberland received an inflow of 246.6 million USDT after a period of inactivity. This suggests a strategic return to active trading, possibly due to favorable market conditions or new investment opportunities.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Institutions continue to inject funds into the crypto market!<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>In the past 40 hours, <a href="https://twitter.com/hashtag/Cumberland?src=hash&amp;ref_src=twsrc%5Etfw">#Cumberland</a> has received 246.6M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> from <a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw">#TetherTreasury</a> and deposited it into <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw">#Kraken</a>, <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a> and <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw">#OKX</a>.<a href="https://t.co/J6VcZ2QN6C">https://t.co/J6VcZ2QN6C</a> <a href="https://t.co/UY1rKIm3QJ">pic.twitter.com/UY1rKIm3QJ</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1813397557055545534?ref_src=twsrc%5Etfw">July 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-cumberland-received-bitlicense-nbsp">Cumberland Received BitLicense&nbsp;</h2> 
<p>As a subsidiary of the Chicago-based high-frequency trading firm DRW, Cumberland has been making notable strides in the crypto space. Last month, the firm secured a BitLicense from the New York State Department of Financial Services (NYDFS), which permits its New York-based operations to engage in virtual currency activities.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">We are pleased that the New York State Department of Financial Services has granted Cumberland New York a BitLicense. We are deeply committed to working with regulators to obtain proper, necessary licensing and ensuring our business is compliant and aligned with regulatory…</p>— Cumberland (@CumberlandSays) <a href="https://twitter.com/CumberlandSays/status/1802727346824253442?ref_src=twsrc%5Etfw">June 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>This regulatory approval enhances Cumberland’s market position. Earlier this year, the firm was selected by Fidelity Investments to trade Bitcoin for its <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">spot Bitcoin exchange-traded fund</a> (ETF), which launched in January.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/crypto-market-turmoil-is-now-the-time-to-buy-or-sell/" target="_blank" rel="noreferrer noopener">Crypto Market Turmoil: Is Now the Time to Buy or Sell?</a></p>

Institutions Pour $95 Million in Tether into Exchanges—Big Move Amid Market Dip!

Table of Contents

CoinPedia News

Other articles published on Aug 7, 2024

Increase In Bitcoin Scams Hits Lubbock, Police Warn

Ripple’s XRP Surges as It Announces Big UAE Partnership

5 Things To Know In Investing This Week: The Trump Bitcoin Issue

Bitkub Chain Sets New Record with Minute-Long Project Integrations, Revolutionizing Global Tech

Is the Fed Concerned About Market Unwind?

New Ripple-DIFC Partnership Aims to Boost Blockchain in the UAE

Join our free newsletter for daily crypto updates!