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

     
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.
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Four reasons why XRP price could set new-all time high above $5

XRP price experienced a significant bull run as it rallied roughly 750% since 2021. However, due to the recent correction, Ripple’s year-to-date (YTD) performance is hovering around 268%.

More Ripple News

Shiba Inu price flashes first sign of reversal, eyes 38% upswing

Shiba Inu price dipped below the short-term governing range on June 11 as the crypto market experienced a minor sell-off. However, bulls have managed to push SHIB above the range high, indicating the resurgence of buyers.

More Shiba News

Ethereum might create another opportunity for buyers to kick-start new uptrend

Ethereum price is currently trading below a critical resistance level and is trying to breach past it. A decisive close above the swing high on June 9 will create a higher high and signal the start of an uptrend.

More Ethereum News

Cardano upswing hangs in balance, but on-chain metrics reveal trouble

Cardano price rose 12% after dipping below a crucial support level at $1.451. ADA is currently hovering inside a critical resistance level, ranging from $1.525 to $1.624. Only a decisive close above $1.636 will confirm the start of a run-up.

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP