As we mentioned earlier Tether is a cryptocurrency backed up by the US dollar, which makes it a stablecoin. It has been reported on Twitter that an unknown person transferred over 12 million Tether tokens to the crypto exchange Bitfinex.
— Whale Alert (@whale_alert) September 25, 2018
The trading volume of the tokenized US dollar has increased by about $12.9 million. Despite this fact, the exchange rate of the cryptocurrency was not affected in any way, it increased by 0.24% within the last 24 hours.
Meanwhile, many crypto experts argue that this event could positively influence the crypto market and Bitcoin. But cryptocurrency is very unpredictable, so we can only wait and see if the specialists were right or not.
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