Whale Sends 404 Million Usdt To Huobi Global Exchange

According to the large transaction tracker Whale Alert, an unknown industry whale sent $404 million in Tether (USDT) to Huobi Global’s vault. In the last few hours of July 14, 2022, it was noted that there were three large digital funds transfers. All assets were carried out from the same wallet.

Market analysts immediately assured that this could signal the upcoming pump in the cryptocurrency world. They think a price jump is about to happen, as the lull has dragged on too long. They noted that USDT is often used to buy bitcoin (BTC) and other cryptocurrencies when prices are at a local bottom. The transfer of such a significant amount may indicate the desire of a millionaire to purchase virtual assets at a discount thoroughly.

According to the report, 2 out of 3 transactions were made from the same wallet address on the TRON network. The cost of the first transaction was $100 million, and the second was $204 million. The third transaction was made from the Bitfinex exchange to Huobi Global for $100 million. The total transfer figure was more than $400 million in USDT.

“At the same time, representatives of Huobi Global stated that they did not receive any deposits from the addresses marked with Whale Alert. According to experts, this could mean that moving USDT from one exchange to another could be part of a larger plan to manipulate the market.”

Some social media users have speculated that the funds were sent to Huobi Global in preparation for a pump and dump scheme for the flagship cryptocurrency. But, this does not mean that a pump will be fixed on the market, as the situation has changed, and many factors can affect the rate of cryptocurrencies.

Earlier, the Crypto.ru editors reported that representatives of the Huobi Global exchange announced a Warcraft III tournament called the Huobi Cup.