Rates fall in the case of Bitcoin, Ethereum & co. by 400 million Tether Burn?

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400 million USDT yesterday disappeared in Tether Treasury, so Twitter users ‘ Whale Alert. Many investors fear that a steep is the downward trend of the Bitcoin price immediately in front of the door.

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Short-term Bitcoin Crash incoming?

16. September learned of the crypto Community, that Tether has burned USDT to a value of approximately $ 400 million. The number of burnt Coins is substantial, since the overall supply of USDT data is according to Coinmarketcap-currently 4.1 billion.

The Tweet sparked fears that Tethers the movement could influence the Bitcoin rate. There is a connection between the range change of the USDT and the price dynamics of Bitcoin is. In General, more USDT-Coins point to an increase in the liquidity, which eventually increases the trading volume of Bitcoin, and as a bullish Signal acts.
A Twitter user even a pattern that shows a relationship between the two Coins, in which the Bitfinex-daughter USDT burns and the price of Bitcoin drops.

The markets should not panic – Tether has moved a portion of its Coins from Omni to Ethereum, although there are some points to consider.

What is actually happening?

It is true that Tether 400 million USDT has burnt – a huge amount, the Bitcoin exchange rate is expected to diminish has. The train, however, is also part of a swap, because the Tether has moved to a part of the Coins in the direction of Ethereum, since Whale Alert announced that Tether 300 million Coins pumped into Ethereum.

Interestingly, the Twitter user mentioned clearly that the train was part of a swap, and that “the appropriate Burn has not occurred on Omni yet.” Tether confirmed that of the 400 million USDT-Burn were part of the Exchange, and that the circulating supply would not be affected.
Text evidence: bitcoinis, Anatol Antonivici

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