Tether Treasury transferred 100 million USDT to Bitfinex on the Ethereum blockchain this Tuesday, according to data from Whale Alert.
While such large movements often spark speculation about liquidity injections, this transaction was likely part of a routine chain swap.
Simultaneously, 100 million USDT was sent from Bitfinex back to Tether Treasury—but on the Tron blockchain.
The move essentially “burned” Tron-based USDT and reissued an equivalent amount on Ethereum, rebalancing liquidity across networks. Chain swaps like this help Tether meet shifting demand for USDT on different blockchains.
The transfer follows similar large transactions last week, including 127 million USDT on June 27 and 148 million on June 25. Tether has also been actively minting new tokens, with 2 billion USDT created on June 22 alone.
With Ethereum seeing renewed demand and Tron’s DeFi sector expanding rapidly, Tether appears to be adjusting its supply in response to cross-chain user activity. USDT remains the dominant stablecoin, with a market cap now surpassing $157 billion.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/tether-rebalances-100m-usdt-from-tron-to-ethereum-via-bitfinex/