A $506.4 Million Tether USDt Transfer Led $1.43 Billion in Whale Moves

Five large crypto transfers worth $1.43 billion occurred in the three hours through 10:01 p.m. ET Wednesday, Nov. 4, as exchange outflows exceeded deposits by $156.2 million.

An unknown wallet transferred 506,643,373 Tether USDt (USDT), worth $506.4 million, to another unknown wallet at 7:36 p.m. ET. It was the largest of the five moves. Binance sent 500,000,100 USDT, valued at $499.9 million, to an unknown wallet at the same time.

At 9:24 p.m. ET, unknown wallets sent 2,140 Bitcoin (BTC) worth $172.7 million and 2,119 BTC worth $171 million to CryptoCom. The transfers into the exchange totaled $343.7 million. Earlier, at 7:51 p.m. ET, Bitfinex sent 999 BTC worth $80.6 million to Kraken.

Exchange outflows to unknown wallets totaled $499.9 million, while transfers from unknown wallets into exchanges totaled $343.7 million. A separate three-hour roundup earlier on Nov. 4 covered $1.83 billion in transfers, led by a $499.7 million USDT move from Tether Treasury to Binance.

Some market participants watch deposits to exchanges for possible selling and withdrawals for possible holding. Transfer direction alone does not establish whether assets were sold or kept.