159 Million USDT Transfer Between two Binance Wallet Addresses

December 17, it was reported that there is a whopping transaction between two Binance addresses with a total amount of 159 million USDT (Tether).

According to Wallstreetcn, leading business news provider in China, the large amount USDT transaction took place at around 21: 40 Beijing Time, a Binance wallet address starts with “1KQ4DHSvR” transformed 159 million USDT to a new address starts with “1pYbaaWDhezjBkX”.

The new wallet address has just been set up on last Tuesday. As of press time, this address has four USDT related transaction records, all of which are transactions between Binance crypto wallets

As of now, the new wallet address holds a total of 168 million USDT, temporarily ranks 31st in the Tether Rich List.

Tether is the largest stablecoin in the market. During last weekend, it has briefly hit the fourth place by market capitalization, for a short time. While today, Bitcoin and other major altcoins are all showing green, EOS has backed in the 4th place with a sudden hike of 21%, and Stellar (XLM) price has also raised by 13.49 percent and spikes in 5th place.

Tether has dropped back to the 6th place with a 1.88 billion market cap, as there is currently a minor bullish rally in the market. The demand for a safe-haven asset has dropped to some extent. It was currently trading at $1.01.

The recent 159-million USDT transaction taken place in the world’s leading cryptocurrency exchange Binance’s wallets led to market speculate the reason for the transfer and the true identity of people participating in.

However, there is no much information available as of press time, and 8BTC will keep an eye on the follow-up issues.

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