Share this article
Tron Loses 23% of Its $4.3B USDT Reserves to DeFi Hotbed Ethereum
A "3rd party" crypto exchange ordered the swap. Signs point to Binance.
By Danny Nelson
Updated Sep 14, 2021, 9:46 a.m. Published Aug 20, 2020, 7:39 p.m.
Stablecoin issuer Tether shifted 1 billion in USDT from the Tron blockchain to the Ethereum blockchain in an early morning chain swap Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Swapped in conjunction "with a 3rd party," according to a Tether tweet, the token transfer drains 23% of TRON's USDT reserves, which previously stocked $4.3 billion in the stablecoin.
- It also pumps up Ethereum's reserves, where well over half of the nearly $13 billion circulating USDT already reside. Ethereum is a hotbed for decentralized finance projects and as such a popular spot for USDT.
- Tether has played a notable role in the Ethereum blockchain's recent congestion, according to Decrypt.
- Big-dollar USDT transfers and billion-token burns spotted by the exchange-tracking Twitter account Whale Alert suggest that Binance may be the third party that ordered the swap.
Mehr für Sie
Was Sie wissen sollten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mehr für Sie
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
Was Sie wissen sollten:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
