financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
Bullish? 3 Billion USDT Entered These Crypto Exchanges in Just 3 Days: Data
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Bullish? 3 Billion USDT Entered These Crypto Exchanges in Just 3 Days: Data
Apr 5, 2024 10:05 AM

Tether Treasury has been actively minting USDT tokens amidst choppy market conditions.

In the latest development, $3 billion worth of USDT tokens were mined by the Tether Treasury within a period of three days, according to an update by Lookonchain.

The tokens were then distributed across the Ethereum and TRON blockchains. This surge in USDT minting has sparked curiosity regarding the destination.

Since April 1st, approximately $2.55 billion USDT has flowed into prominent crypto exchanges, including Binance, Bitfinex, Kraken, and Coinbase.

Notably, Bitfinex received $1.018 billion USDT, while Kraken and Binance witnessed an inflow of $824.1 million and $614.6 million worth of the largest stablecoin. Meanwhile, Coinbase received $93.8 million USDT during the same period.

These USDT inflows raised questions among the community about whether investors who were sitting on the sidelines for now are preparing to enter the market. Prices have been falling recently, which provides a good buy-the-dip opportunity.

Tether has seen a monumental surge in its dominance over the past years.

With the widespread rebound in digital assets price this year, USDT surpassed $100 billion in market cap as it continued to command the lions share of the stablecoin market.

The latest development comes days after the stablecoins issuer expanded its Bitcoin holdings with the acquisition of 8,889 BTC, valued at approximately $627 million. This purchase boosted Tethers Bitcoin reserves, bringing them to a total of 75,354 BTC.

This move was part of its broader plan to allocate up to 15% of corporate profits from surplus USDT stablecoin reserves into Bitcoin.

Tether also announced completing the System and Organization Controls (SOC) 2 Type 1 Audit, which is deemed as the first step towards achieving the highest level of security compliance.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Number of Large Bitcoin Investors Surge to Multi
Number of Large Bitcoin Investors Surge to Multi
Jun 27, 2025
On-chain data from the market intelligence platform Santiment shows that the number of wallets holding at least 10 BTC has returned to levels not seen since March. This surge in whale and shark activity coincides with massive institutional inflows into spot Bitcoin ETFs and signals deep-pocketed confidence despite recent price consolidation below critical resistance. Whales Feast Amidst Retail Jitters According...
Across Protocol Team Accused of a $23M Grab; Co
Across Protocol Team Accused of a $23M Grab; Co
Jun 27, 2025
Ogle, a pseudonymous crypto sleuth and founder of Layer 1 project Glue, has alleged that the Across Protocol team used a web of undisclosed wallets to steer DAO votes in their favor, which enabled the team to transfer almost $23 million from the Across DAO treasury to their private company, Risk Labs. According to Ogle, while Across operates under the...
$1 Billion Filing by Bakkt Hints at Bitcoin Treasury Ambitions
$1 Billion Filing by Bakkt Hints at Bitcoin Treasury Ambitions
Jun 27, 2025
Bakkt Holdings has filed a shelf registration with the US Securities and Exchange Commission (SEC) to raise up to $1 billion through a variety of securities offerings while considering Bitcoin purchases for its corporate treasury. The digital asset platform, backed by Intercontinental Exchange, outlined in its Form S-3 filing that it could issue common and preferred stock, debt instruments, warrants,...
Is Ethereum (ETH) Seriously Undervalued Right Now? Many Whales Bet On It
Is Ethereum (ETH) Seriously Undervalued Right Now? Many Whales Bet On It
Jun 27, 2025
Ethereum (ETH) began climbing again this week, along with the rest of the market. However, it remains trapped under the $2,879 level for now. Even as it struggles to spearhead the much-anticipated altseason, its network activity is telling a louder story. Historic Activity on Ethereum On June 25, Ethereum recorded 1,750,940 confirmed transactions. This was the third-highest daily count in...
Copyright 2023-2025 - www.financetom.com All Rights Reserved