USDT is one of the most popular cryptocurrencies as it is used to buy currencies that might not be available in some countries. It leverages the value of the Dollar and lets international users buy other cryptocurrencies.
But recently, 6 companies bought about $100 billion worth of USDT from Tether. Alameda Research, Cumberland Global, iFnex, Nexo and Heka are the 6 big whales that have bought huge amounts of USDT, with Alameda research leading.
The $108.5 billion USDT that they have bought is roughly 70% of USDT that has ever been released into the market. With whales moving and acquiring other big currencies like Bitcoin too, there is a chance that a bull run might be coming soon.
Tether has said that these buyers make almost 90% of all the USDT that has ever been sent. While trading funds received close to $9.2 billion, the small traders only received $2.35 billion.
Alameda research and Cumberland together bought $49 billion worth of USDT that is 55% of the coins ever released. These were acquired over the last year and Alameda has been using them to buy other cryptocurrencies too.
If you have been planning to get into cryptocurrencies, right now is the best time to do so. With the whales moving in and each currency gaining value, experts predict that soon these currencies might be out of reach for most. Not only that, you might as well miss the chance to earn money in these new-age DeFi systems.