15 million USDT Swapped from Ethereum to Tron ā Tether News
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.
šµ šµ 15,000,000 #USDT (14,926,094 USD) minted at Tether Treasury
ā Whale Alert (@whale_alert) October 21, 2019
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.
Chain Swap, ERC20 to Tronhttps://t.co/Bgja5EqMjEhttps://t.co/LIfgMI1rp4
ā Paolo Ardoino (@paoloardoino) October 21, 2019
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.
Would be nice to have a better notification for chain swaps. Kind of:
ā-
if (from_tx0 == exchange_wallet && dest_tx0 == tether_treasury &&
source_tx1 == tether_treasury && dest_tx1 == exchange_wallet) {
tweet_text += ' [chain swap]'
}
ā-
CC @whale_alert pic.twitter.com/t22jjhrxYEā Paolo Ardoino (@paoloardoino) October 21, 2019