Tether Freezes $13.4M USDT Across 22 Addresses
- Tether freezes $13.4M USDT on 22 addresses.
- Shares on Twitter indicate affected wallet addresses.
- Liquidity shifts in USDT trading pairs observed.
Tether Holdings Ltd froze 13.4 million USDT on Ethereum and Tron, impacting 22 wallets, as identified on October 16 through MistTrack’s platform.
By adhering to compliance measures, Tether’s recent action could influence liquidity on major networks, potentially affecting market dynamics and stability for cryptocurrencies like USDT, ETH, and TRX.
MistTrack, an on-chain analytics firm, noticed these actions. It reported that Tether froze 10.3 million USDT on Ethereum and 1.4 million USDT on Tron.
Impact on Market Liquidity
The market has experienced shifts, particularly in liquidity and trading pairs involving USDT. Historically, similar freezes often bring temporary changes to trading dynamics. Major tokens affected include Ethereum and Tron. Such actions usually do not involve grants or institutional investments. Instead, they arise from risk indicators or requests from law enforcement agencies, focusing on policing financial maneuverings.
MistTrack, Analytics Provider, “On Oct 16, @Tether_to froze 22 addresses across #Ethereum and #TRON, totaling 13,408,649 $USDT. Among them: 0xecbd85e318e83f0358b404b41fb73daaacbeb59e – 10,301,346 $USDT frozen; TYzDebkjMofvfWR6v7Ay1rcH7r9JjYMxQV – 1,403,971 $USDT frozen…” – MistTrack
Anticipated Market Adjustments
Relevant authorities have yet to release public statements regarding this event. Market liquidity adjustments are expected, albeit momentarily, until USDT trading stabilizes on prominent exchanges. While official comments from Tether’s leadership remain absent, ongoing monitoring reveals no substantial deviation from historical patterns. Liquidity pools have quickly aligned post-freeze in prior instances, keeping stablecoin utilization steady.
