Crypto Whales Move 3 Bln CRO, 107 Mln USDT in Lumps

News
Thu, 05/07/2020 - 12:00
Yuri Molchan
Whale Alert has spotted mammoth-sized amounts of USDT and CRO moved by crypto whales to major exchanges over the past ten hours
Cover image via stock.adobe.com
Contents

The Twitter bot Whale Alert has reported data on tremendous amounts of crypto that was moved by whales over the past ten hours. The coins spotted in those transactions are the most popular stablecoin USDT and CRO – the top-16 cryptocurrency on CoinMarketCap.

107.4 mln USDT goes to Binance and anonymous wallet

As per Whale Alert, eighty million USDT was transferred (in two wires) from an unknown wallet to the largest exchange, Binance.

Image via Twitter

Another twenty million USDT was sent to a wallet with an unregistered owner from the Tether Treasury.

Many in the crypto community have a negative attitude to the fact that Tether often creates more USDT, comparing it to the Fed Reserve.

Due to the current economic crisis in the US and the rest of the world, US President Trump and the Fed have launched a QE program much bigger than the previous one back in 2009. This time, over six trillion USD has been injected into the economy to support banks, corporations, SME and ordinary US citizens.

The unemployment rate in the US is growing at a tremendous speed, growing bigger than what the US witnessed during the Great Depression in 1929-1930.

Jonathan Leong, the CEO of BTSE.com, took to Twitter to warn people in the US that the current non-stop cash printing is likely to have a big negative aftermath.

Related
‘Bitcoin (BTC) Is World’s Best Real Estate’ – So ‘Rich Dad, Poor Dad’ Author Seems to Think

3 bln CRO moved to Huobi

CRO is the market ticker of Crypto.com Coin. It is ranked 16 on CoinMarketCap at the time of writing.

Whale Alert reports that 3 billion of these coins were sent in two lumps from an unknown wallet to the Huobi exchange – that is 18 percent of the coin’s circulating supply.

Image via Twitter

At press-time, CRO is trading at $0.0637, as per CoinMarketcap.

Image via CoinMarketCap

 

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy