Tether Burns $2.5 Billion USDT on Ethereum on July 7, Largest Since February

ETH-3.79%
According to CryptoQuant, Tether burned $2.5 billion USDT on the Ethereum network on July 7, marking the largest single burn since February 2026. Ethereum's price fell over 2% following the event, though traders noted the burn reflects liquidity shifting between networks rather than an outright exit from crypto. Trading volume remained steady around $10 billion.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments