Tether Treasury Transferred Over 66 Million USDT to Binance in the Past 48 Hours
2024-10-20 15:51:44
Tether's growing supply of stablecoins could catalyze the next "Upember" rally (cryptocurrency slang, meaning October), as historically October has been a bullish month for bitcoin prices. Looking at where Tether's money is going, a significant portion is being sent to some of the largest centralized exchanges (CEXs), indicating that investor buying pressure is increasing. According to Arkham Intelligence, in the last 48 hours, Tether treasury sent more than $66 million worth of stablecoins to Binance and more than $20 million worth of USDT to the Kraken exchange.
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