Transfer from the Tether treasury to Bitfinex
A transfer of 100 million USDT was recorded from the Tether Treasury (the central issuance wallet) to Bitfinex, according to Whale Alert.
This movement was accompanied by a reverse transfer: first, Bitfinex returned that amount to the treasury using USDT tokens on the Tron network, and then received 100 million USDT on the Ethereum network. This is likely a chain swap, meaning a relocation of liquidity between blockchains to meet different user demands on different networks.
Similar precedents
Similar events occurred weeks before: 127 million USDT sent to unknown addresses on June 27 and 148 million on June 25, which reinforces the idea of regular adjustments between networks.
Why is it relevant?
Cross-chain liquidity optimization
These adjustments allow Bitfinex to have liquidity on the correct blockchain according to demand (for example, higher activity on Ethereum compared to Tron), facilitating more efficient transactions.
Institutional Management Indicators
From a market management perspective, these movements show that Tether and Bitfinex are attentive to the segmentation of the crypto market and are preparing to offer liquidity accordingly.
Limited impact on price
USDT transfers do not alter the total amount in circulation, so they do not have a direct effect on cryptocurrency quotes. However, they are useful for anticipating movements if the funds are subsequently used for purchases of assets like Bitcoin or Ethereum.