U.Today - Blockchain sleuth @lookonchain has spread the word that an anonymous financial institution has deposited a massive amount of USDT to major U.S.-based .
Two wallets that @lookonchain believes to be controlled by the same owner withdrew 33.9 million USDC from Circle, and then, after converting them to USDT, transferred this crypto stash to Kraken.
Santiment on-chain analytics aggregator has also noticed increased on-chain activity taking place with USDT at the moment. The number of active wallets has reached a three-month peak; mainly this is happening thanks to an increase of USDT deposits made to crypto exchanges.
Aside from that, Santiment reports, crypto wallets holding between 1 million and 10 million USDT are actively purchasing stablecoins now. Both of these factors indicate potential interest in buying crypto with this USDT in the future, Santiment concluded.
Bitcoin and , the two leading cryptocurrencies, are trading at a discount at the moment. Bitcoin has lost 2.75% since Monday, now trading at $27,161 per coin. The Ethereum price has lost 3.70% over the same period, exchanging hands at the $1,573 level at the time of this writing.