$20.1 million in USDT moved from Tether treasury to the Kraken exchange

08 Apr, 2019 | Updated: 08 Apr, 2019
by Will Heasman
News
$20.1 million in USDT moved from Tether treasury to the Kraken exchange

Two mammoth transactions amounting to over $20.1 million in USDT tokens just got shifted from the Tether treasury to the Kraken exchange…

Thanks to the ever-vigilant eyes of the Twitter account, Whale Alert, these two major transactions were caught moving an hour ago, and already speculation as to what is about to occur is ruminating… 

These two transactions took place just seconds apart, connected by proximity, destination and amount, with the dual transactions coming from the Tether treasury and headed to the Kraken exchange, both citing 9,990,000 USDT a piece. 

Crypto afficiandos and market speculators were quick to jump on these transactions, with ideas already formulating as to what this might mean for the wider market:

A few suggested this may be indicative of an incoming pump:

While this could result in a pump into the markets it could actually involve a mass sell-off, as Kraken is one of the exchanges which supports a USDT/fiat paring…

However, recently it was suggested by CZ, the CEO of Biannce, that money “parked in pseudo fiat” aka stablecoins such as USDT, was waiting on the sidelines, ready to “jump in”:

Proving whether or not this is the start of that money jumping in will require either a very accurate crystal ball or some patience…

Read more: Binance CZ on Bitcoin pump: 'Money ready to jump in, all in FOMO mode'

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Read more about: Tether (USDT)

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