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On-chain data shows that a whale made two large deposits into Huobi, boosting the exchange’s holdings of USDT and Ether.
The deposits bring Huobi’s supply of USDT up to $273 million, according to DeFi Llama data.
Huobi also has a balance of $400 million stUSDT, a Sun-backed project described as the “first real-world asset protocol on the Tron Network” though its not yet widely supported.
These transactions come as outflow from Huobi continues. Data from Nansen.ai shows that in the last week, $92.2 million in Ethereum-based tokens have flowed off the exchange, while $101 million in total across all blockchains has moved during the same time period.
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