As it became known thanks to a report from Whale alertNearly half a billion dollars worth of USDT stablecoin has just been transferred to the world's largest exchange, Binance. Such transfers are important, as in the general sense of cryptocurrency market participants they are seen as big business Cryptocurrency Whale transfers “crypto cash” for free to major exchange to buy assets.

In the latter case, the wallet under the address “0xa7C” from which the transfer was made is unknown, according to the source. This may mean that the owner of the funds is actually an unknown major investor.

However, in-depth analysis, especially with the help of Arkham Intelligence data, shows that the transfer was an internal operation of BinanceAs funds move from one cold wallet to another.

So, as it seems, there is no mystery, as the black and yellow cryptocurrency giant just moves stablecoins between its wallets for whatever reason. However, this does not mean that market participants will interpret it as is, and the report itself could still prompt some cryptocurrency enthusiasts to choose the bullish side of the market.

It remains to be seen whether this will be the only major transfer of USDT on Binance today, as the continuation of such transfers may indicate that there is a bigger game going on behind the scenes of cryptocurrencies, and it was not just an internal operation of the platform. exchange.