Whales Loading Up? Over 1.2B USDT Moved to CEXs in a Week

Over the past week, more than $1.2 billion worth of Tether (USDT) was moved to centralized exchanges through the Tron network, signaling renewed activity in the stablecoin space. The data, shared by blockchain analytics firm IntoTheBlock, points to Tron’s growing dominance as a preferred network for fast and affordable stablecoin transfers.

Over $1.2 billion worth of USDT flowed into exchanges via the @trondao network over the past seven days, underscoring Tron’s role in facilitating efficient stablecoin flows.

This uptick suggests traders are positioning to buy the dip or cover long positions. pic.twitter.com/xyZquDx9XO

— IntoTheBlock (@intotheblock) April 9, 2025

Notably, Tron has become a go-to option for moving large amounts of USDT, thanks to its low transaction fees and quick processing times. USDT now accounts for 99% of the stablecoin supply on the Tron network, showing how dominant it has become on that blockchain.

Surge in USDT Inflows

IntoTheBlock observed that the recent surge in USDT inflows suggests two potential strategies. Participants might be preparing to buy during market dips or adjusting leveraged long positions to manage risk amid price fluctuations.

Remarkably, such behavior typically occurs during volatile periods when market participants seek to rebalance portfolios or pursue short-term opportunities. Such movements highlight ongoing shifts in the market as traders adapt to changing conditions.

Supporting this trend, on-chain stablecoin activity has risen significantly. Daily active addresses interacting with stablecoins recently surpassed 300,000, marking a peak not observed in recent weeks.

Tether Expands Market Reach

Meanwhile, Tether, the USDT stablecoin issuer, continues to expand its footprint. The company reported a record $13.7 billion profit in its 2024 Q4 financial statement. With $45 billion worth of USDT minted so far this year, Tether’s total market valuation has climbed to $144 billion, controlling 61% of the entire stablecoin market share.

To ensure USDT remains fully backed, Tether maintains $7 billion in excess reserves. The firm has also heavily invested in traditional finance, becoming the seventh-largest holder of U.S. Treasury securities in 2024, with $33.1 billion in U.S. bonds. This puts Tether ahead of countries like Canada, Germany, and Mexico in U.S. debt holdings.

Looking to deepen its presence in the U.S., the firm is preparing to introduce a new dollar-backed stablecoin tailored for American financial institutions. While similar to USDT, this version will be designed to comply with U.S. regulations, offering a secure and regulated option for banks, hedge funds, and large corporations.

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