Crypto whales moved hundreds of millions of dollars worth of Tether (USDT) on and off exchanges over the weekend as Bitcoin soared to its highest prices in more than a month.
BTC is trading at $38,286.06 at time of writing but at one point had surged to a high of $42,628.50 over the weekend, according to CoinGecko.
On Sunday, an unknown wallet pulled more than $153.14 million worth of USDT off of the lending platform Compound (COMP) in three separate transactions, according to the crypto tracker Whale Alert. Ethereum blockchain explorer Etherscan shows that the entity behind the wallet is a deep-pocketed crypto holder, shuffling hundreds of millions worth of USDT in and out of Compound.
Additionally, four separate unknown wallets sent more than $221 million worth of the dollar-pegged stablecoin to crypto exchanges over the weekend.