15 million USDT Swapped from Ethereum to Tron – Tether News

Whale Alert reported that 15 million USDT were minted at Tether. But before it created panic among the crypto community, CTO of Bitfinex, Paolo Ardoino clarified that it was a chain swap from ERC-20 to Tron. However, minitng or burning USDT-Tether in the past has had major effects on the price of the leading cryptocurrency.

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Earlier today, Whale Alert reported that 15 million USDT worth $14,926,000 were minted at Tether, which created a hype momentarily before CTO of Bitfinex and clarified that it was chain swap from ERC-20 to Tron.

The volume of Tether has increased by 122% in 2019, and it has also acted as a lead indicator for the price of the leading cryptocurrency. Minting of Tether constantly has had a major effect on the price of bitcoin. The daily volumes of Tether and BTC are also comparable.

Paolo Ardoino also asked Whale Alert to report chain swaps differently than minting. According to Tether transparency, the amount of USDT issued on Etherum is 7.2 times more than Tron. Currently, 4.4 billion USDT is in circulation. However, Etherum is currently leading the space. As reported earlier, Ethereum has gotten a green light from the CFTC for its derivatives launch.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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