Bitcoin surges by 3.86% in an hour, while Bitfinex and Tether Treasury exchange $10 million in USDT

  • 29 June 2019, Saturday, 10:00

The king coin roars again as it surges by a massive 4.95% over the past 90 minutes. The coin’s price shot up from $11,503 to $12,073.19 in a matter of hours.

At press time, BTC was valued at $11,967.57 with a market cap of $214.21 billion. The 24-hour trading volume of the coin was reported to be $30.59 billion as it noted 1.66% growth over the past day. In the past seven days, BTC pumped by 10.74% and continued to march forward by 3.86% in an hour.

At the same time, Whale Alert alerted the community about the movement of $10 million USDT from Tether Treasury to Bitfinex. Bitfinex immediately sent back the same amount to Tether Treasury. Tether and Bitfinex have not commented on such suspicious movement of Tether and mostly around the time of BTC pump.

Tether had been minting USDT for which the CTO of Bitfinex, Paolo Ardoino explained that it was future use. However, since then Tether Treasury has minted USDT multiple times, without any explanation.