Halving pump? Over $28 million USDT Transferred to Binance


Bitcoin

Halving pump? Over $28 million USDT Transferred to Binance

It’s the homestretch for Bitcoiners. The network will in approximately four hours halve their miner rewards from 12.5 BTC to 6.25 BTC in a seismic turbulence that, if forthcoming events sync with history, will massively bulwark the network and even bolster the demand for the world’s most valuable digital asset—BTC.

As the trading and investment community eager waits for heighten volatility, whales are apparently flowing in. A tracker who monitors their movement has just posted on Twitter that someone moved $28.2 million or (28.3 million USDT) to Binance.

Whales Flowing in, is this the beginning of a Price Pump?

Binance is a top choice destination for most traders out of the US considering the range of assets they support, the CEO’s ambitions, and deep liquidity.

If, therefore, Bitcoin is king and preferred by investors because of its liquidity depth, distribution, and its resilience, it is highly probable that these funds will be channeled if not directly to Bitcoin then to one of its derivatives products like Bitcoin Futures or Options.

Meanwhile, USDT is the most liquid stablecoin that has its advantages. Unless most coins that require KYC for acquisition, there are indicators that reveal an absence of stringent measures by Tether Limited when issuing the coin.

Moreover, that USDT can be minted on Ethereum as an ordinary ERC-20 token, Tron, and its original network, Omni, represents diversity. Different investors with varying needs can therefore opt for any blockchain standard and request for generation from Tether Treasury.

Strong Fundamentals ahead of Bitcoin Halving

The entry of whales a few hours to halving is a boost since Bitcoin fundamentals are already stronger. For instance, since the last halving in 2016, Glass Node data reveals that the number of Bitcoin addresses continue to increase quarterly.

There are over 30 million unique BTC addresses and on average, over 350,000 addresses are created every day. Besides, the number of addresses who own over 0.1 BTC now exceed 3 million while there are over 800,000 wholecoiners. This means the network is satisfactorily diversified.

Additionally, even in the face of an expected miner capitulation, the network hash rate is at around their all-time high.

Author: Dalmas Ngetich
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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Dalmas Ngetich 335 Articles
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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