The number of #USDT transfers to exchanges has skyrocketed – ATH according to our data.

Given that the inflow exchange volume did not significantly increase, this implies a large amount of small-sized Tether deposits.

Main destination is #Huobi.

View live chart | @glassnode

Our data shows that a total of 1 billion $USDT (ERC20) was deposited to #Binance in the past two hours.

Note that #Tether has performed a chain swap from Tron to the ERC20 protocol, which effectively leaves the total #USDT supply unchanged.

Live chart | @glassnode