I have been monitoring the action on the Tether Rich List and there
have been some big movements of USDT in the last days.
Tether Rich List as of now:https://wallet.tether.to/richlist
Tether Rich List from 3 days ago:https://web.archive.org/web/20180128114237/https://wallet.tether.to/richlist
Notable changes:-1DUb2YYbQA1jjaNYzVXLZ7ZioEhLXtbUru (Bittrex) had outflows of more than 71M USDT
-1FoWyxwPXuj4C6abqwhjDWdz6D4PZgYRjA (Binance) had outflows of more than 92M USDT
-1Po1oWkD2LmodfkBYiAktwh76vkF93LKnh (the smaller address of Poloniex) had outflows of nearly
50M USDT and contains less than 2M USDT now
No known Tether address of an exchange has received inflows of similar amounts of USDT, which
makes it likely that they are going back to Tether or Bitfinex.
Maybe this is not even related to the recent Tether news/FUD, but due to an
outflow of money from altcoins. Could this be the beginning of the end of the altcoin bubble?
I´d argue that many people finally realize that investing in Ripple, Stellar or similar shitcoins
won´t double their money in a week.
Another possibility is that these are funds that were raised by ICOs that use USDT
to launder their money or as a way to exchange their proceeds to BTC. After all
Bitfinex is one of the exchanges were you could arguably easier get rid of ICO proceeds
compared to more legit exchanges like Gemini.