March 4, 2021

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1.5 billion USDT added! What are these whales going to?

1 min read
1.5 billion USDT added! What are these whales going to?

Watching the capitalization of stablecoins pays off. Each major increase usually correlates with the price action on the BTC / USDT pair, which in turn affects the whole market. We have reason to assume that this will be the case this time. Tether sent a record $ 1.5 billion tokens into circulation!

 

1.5 billion USDT added! What are these whales going to?

 

This is a record amount. We haven’t seen anything like it yet. The capitalization of Tether thus exceeded six billion, bringing this coin slowly but surely to the 7 billion of XRP.

 

If we are to trust Tether, each USDT token is directly covered by fiat currency or security. New tokens are typically created after the company receives an equivalent amount of resources in a bank account. Today, $ 1.5 billion has been added, which means that an entity has sent this amount to the market and could start shopping soon.

 

We do not want to speculate on a pump, of course that can never be predicted. In addition, USDT tokens can also be used as collateral for opening shorts.

 

In any case, pay close attention to positions you have open on the stock exchange. We expect a significant increase in market volatility!

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