Tether (USDT) Continues Pumping Liquidity on Bitfinex, Supporting Bitcoin (BTC) Price By Cryptovest

More than 46% of Bitcoin (BTC) trading taking place this Thursday is occurring against Tether (USDT). The surge in USDT liquidity follows Tether’s recent activity, where tokens were sent from its treasury wallet to Bitfinex.

Although there has been no newly minted USDT tokens, the existing stored funds facilitate quick transactions. On Wednesday, the Tether treasury wallet conducted two transactions, transferring 50 million and 30 million USDT directly into one of the hot wallets at Bitfinex.

For several hours on Wednesday, trading activity was significantly impacted by these movements, highlighting the ongoing relationship between Tether and Bitcoin pricing dynamics.