Cryptocurrency News Market

Whale transfer of $46 billion USDT attempted; but transaction deemed invalid

Tether has maintained its prominence as the gateway coin in the financial ecosystem. Recently, the Tether ecosystem managed to create buzz after a whale transaction was caught by Twitter’s prominent crypto enthusiast @whale_alert, who tweeted,

“🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 46,140,337,592 #USDT (46,169,056,069 USD) transferred from unknown wallet to unknown wallet”

The massive amount of USDT transfer was conducted between unknown wallets, a usual trend in the crypto ecosystem. According to the transaction details, the transaction was initiated over the Bitcoin blockchain from the sender address 1BkqRAVd6RFGrntFnqC4iG3vaX42hFsSW8 to the receiver at 165Xu3ABMLkLz1oFvqRgJAtRuA1LtRKMid.

Moreover, the transaction was deemed invalid owing to “Reason: Sender has insufficient balance” as evidenced by the image below.


Source: omniexplorer

Although the transaction did not complete, it is interesting to note the “low transaction fees” involved in such transactions, which serves as one of the most promising argument against the traditional system.

I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

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