On Tuesday, Tether Treasury transferred 100 million USDT to Bitfinex on the Ethereum blockchain, according to data from Whale Alert. While such large transfers often raise speculation about liquidity injections, this transaction was likely part of a routine chain swap.
At the same time, an equivalent amount of 100 million USDT was sent from Bitfinex back to Tether Treasury—but on the Tron blockchain. This movement effectively “burned” the Tron-based USDT tokens while reissuing the same amount on Ethereum, helping to rebalance liquidity between the two networks.
Chain swaps like these enable Tether to meet changing demand for USDT across different blockchains, ensuring sufficient liquidity where it is most needed.
This transfer follows a series of large transactions last week, including 127 million USDT moved on June 27 and 148 million on June 25. Additionally, Tether has been actively minting new tokens, with 2 billion USDT created on June 22 alone.
With Ethereum seeing a resurgence in demand and Tron’s decentralized finance (DeFi) sector growing rapidly, Tether appears to be dynamically adjusting its supply to match cross-chain user activity. USDT continues to dominate the stablecoin market, boasting a market capitalization exceeding $157 billion.
July 2025, Cryptoniteuae
