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BTC $79,684.91 +0.03%
ETH $2,508.88 +0.12%
BNB $707.33 -0.07%
XRP $1.43 +0.18%
SOL $106.61 +2.04%
TRX $0.3410 +1.54%
DOGE $0.0873 -1.39%
ADA $0.2097 -1.79%
BCH $264.75 -1.78%
LINK $11.80 +0.26%
HYPE $83.59 +1.16%
AAVE $126.35 +0.01%
SUI $0.7642 -0.13%
XLM $0.1843 -0.79%
ZEC $800.63 +2.33%

Tether burned 2.5 billion USDT on Ethereum in a single day, the largest scale since February

2026-07-08 12:08:05

CryptoQuant, citing on-chain data analysis, states that Tether Treasury has destroyed $2.5 billion worth of USDT on the Ethereum network, marking the largest single destruction on this network since February of this year. This scale exceeds the $2 billion destruction on May 8 and is second only to the historical high of $3.5 billion on February 10.

Meanwhile, the USDT balance flowing in and out of Binance through the Tron network has dropped to approximately $806 million, the lowest level since December 29, 2025 ($391 million), falling below the $1 billion mark, indicating a significant contraction in USDT liquidity in the Binance Tron channel. The large-scale destruction by Tether Treasury itself reflects more on redemptions, fund management, or cross-chain rebalancing operations rather than being a direct market signal; however, the simultaneous contraction of Ethereum's supply side and Binance's Tron liquidity is worth ongoing attention to see if the trend of tightening liquidity in dual-chain stablecoins continues.

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