Tether announces massive USDT shifts between blockchains

The company announced a swap between blockchains.
One of the transactions involved tokens worth over $100 million.

Tanya Abrosimova Independent Analyst

Paolo Ardoino, a technical director of Tether company and a cryptocurrency exchange Bitfinex, announced recently that USDT tokens would be partially transferred from Omni protocol to ERC-20.

"@Tether_to is working with an exchange to perform a swap from Omni to ERC20 of part of its USDT cold wallet," he wrote in his Twitter account.

In the next tweet, Ardoino pointed out to one of such transactions in whale alerts that involved over 100 million USDT. He also explained a series of whale alerts by the transition.

The statistics on the amount of USDT tokens available on various blockchains are published on Tether's website.

Currently, over half of all Tether coins are Omni-based (they are worth $2/82 billion). The issuance of ERC-20 standard-based coins reached $1.45 billion. USDT tokens worth of 107 million is issued on Tron's blockchain. EOS network has USDT worth of $251 million.Meanwhile, in July, Tether announced USDT issuance on Algorand blockchain. Read more about the launch here

Also, it is worth noting that in July Tether accidentally mined coins worth of $5 billion while moving them from Omni platform to Tron's blockchain.

Author

Tanya Abrosimova

Independent Analyst

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