Almost 1.6 billion USDT was transferred by anonymous whales and the Bitfinex exchange as the price of Bitcoin exceeds $ 57,000
Whale Alert blockchain service spreads the word that, in the past 24 hours, three transactions bearing a staggering amount of USDT each have been made on the blockchain. The total amount of stablecoins transferred there is close to 1.6 billion USDT.
In the meantime, the price of the world’s leading cryptocurrency, Bitcoin, has surpassed the $57,000 level after its upward price action demonstrated on Oct. 11.
Whales move 1.6 billion stablecoins
The aforementioned blockchain tracker spotted that in the past 24 hours, Anonymous Whales and the Tether Treasury have made three transactions, carrying 666,820,516, 249,999,999 and 667,816,661 USDT stablecoins.
The first and third transactions were made in Tron-USDT from the same address: TV6MuMXfmLbBqPZvBHdwFsDnQeVfnmiuSi.
Tether Treasury transferred 250 million Tethers to Bitfinex in USDT based on ETH. Tether and Bitfinex share the same management team; therefore, Bitfinex often gets USDT from Tether whenever it needs more liquidity for trading Bitcoin and other cryptocurrencies.
Bitcoin price exceeds $ 57,000
Bitcoin finally appears to have fully recovered from the long-standing correction caused by Tesla’s blocking of Bitcoin payments in the spring of this year.
Back then, Elon Musk’s tweet about the e-car giant freezing BTC payments for Tesla automobiles sent Bitcoin into a retracement over 50%. Now the world’s flagship crypto has recovered, breaking the $ 57,000 level.
By now, BTC has remained above the $50,000 price mark for over a week, and its market dominance has surged to 45.51%, according to data provided by IntoTheBlock on-chain data agency.
Their data shows that Bitcoin’s recent spike was driven by strong momentum in the derivatives market – BTC perpetual swaps surged to $ 16.06 billion. That is a rise by almost $6 billion from the lows seen on this market in September.
Jamie Dimon takes on Bitcoin
Oddly enough, Bitcoin has topped $ 57,000 and remains there, despite yesterday’s statement from JPMorgan CEO Jamie Dimon in which he called Bitcoin “worthless.” He doubted that the emission of BTC will actually end at 21 million; that is Bitcoin’s main bullish feature and appeals to many experts from Wall Street as well as Bloomberg—its chief commodity strategist, Mike McGlone, in particular.
