Recent data from blockchain records indicates that a big investor put a lot of money into Huobi, a cryptocurrency exchange.
They sent a big amount of USDT, which is a type of digital money, worth $200 million, and also gave 5,000 units of Ether (ETH), another type of digital currency, which is worth around $9.15 million. This happened on a Tuesday morning in Asia.
Someone from Huobi who speaks for the company said that the address where the money came from doesn’t belong to Justin Sun. This address is marked as one of the top 10 people who have a lot of TRX tokens, a type of digital money.
Because of these deposits, Huobi now has about $273 million worth of USDT, which is a type of digital money, according to information from DeFi Llama.
Huobi also has about $400 million worth of stUSDT. This is a project supported by Justin Sun, who says it’s the first protocol for real-world things on the Tron Network, even though not many people are using it yet.
At the same time, money keeps leaving Huobi. Information from Nansen.ai tells us that in the past week, around $92.2 million worth of tokens based on Ethereum have moved away from the exchange. In total, about $101 million has moved off the exchange in this same time, no matter which type of digital money it’s based on.
One of the reasons why many people are quickly taking their money out of the exchange is because of rumors that aren’t proven to be true. Some people are saying that important people at Huobi have been stopped by the authorities in China, but someone who speaks for the company said that this is not true.
The price of Huobi’s token, called HT, has gone down by 2%. Right now, people are buying and selling it for about $2.62.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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