A $246.7 Million USDT Transfer Led Five Crypto Moves Worth $616.6 Million

Crypto wallets moved $616.6 million across five large transfers in a three-hour window ending at 10:01 a.m. ET Friday, Nov. 6, as exchange outflows edged above exchange-bound transfers.

A 247 million Tether USDt (USDT) transfer worth $246.7 million from an unknown wallet to Bitfinex at 7:53 a.m. ET was the largest. Kraken sent 1,986 Bitcoin (BTC), valued at $150.7 million, to an unknown wallet at 8:26 a.m. ET.

Coinbase Institutional sent 678 BTC worth $51.6 million to an unknown wallet at 7:07 a.m. ET and 710 BTC worth $54 million at 9:57 a.m. ET. At 8:57 a.m. ET, 1,497 BTC worth $113.6 million moved between unknown wallets.

Transfers from Kraken and Coinbase Institutional totaled $256.3 million, $9.6 million more than the $246.7 million sent to Bitfinex. The transfers show where the assets moved, but do not establish whether recipients later sold or kept them.

A similar five-transfer roundup from Nov. 4 totaled $1.43 billion.