USDT raised more than $1.3 billion in new shares in a single month, 86% of which went to the two platforms

March scan of data on ChainsMap (part 2) : more than 1.3 billion usdts in a single month. Where did the USDT go?

Beijing lianan

In march, there was a data behavior on the chain that aroused the attention and controversy of the industry, that is, the USDT, or rather, the crazy issuance of ERC20 USDT. So what was the overall scale of the issuance of ERC20 USDT in March, and which trading platforms did the USDT mainly flow into? At the end of march's summary, let's take a look back at the crazy march of USDT.

From a purely technical perspective, the first ERC20 USDT placement in March took place on the afternoon of March 5, when teda issued 200 million ERC20 USDT. However, from the perspective of business, this is actually a process of switching from USDT on other chains to ERC20 standard with the currency and security trading platform that has been publicized by teda, and the total amount has not changed at that time, so we do not count this "additional issuance" in the overall additional issuance in March.

After the completion of the "additional issue" on March 5 in cooperation with the switch, teda company literally added 60 million ERC20 USDT at 11:49 p.m. on the same day, which kicked off the prelude of the additional issue in March. With the sharp fall of bitcoin on March 12 and the rapid rise of the otc USDT premium, teda's USDT issuance this month showed an explosive and accelerating trend.

From the process of ERC20 USDT issued by teda in March, we can see that the 3.12 drop is not the only factor that prompted teda to accelerate the issuance, less than seven days before that, teda issued 4 additional shares in total of 240 million USDT, or even issued one before the official start of the 3.12 drop. In the whole march, teda issued a total of 1.32 billion ERC20 USDT, from the original 60 million USDT once to the later 120 million USDT once, the size of a single issuance is also expanding.

By the end of march, the direction of these USDT has been tracked for 5 layers in order to explore the direction of the relevant USDT in this period. Since teda also issued additional shares on March 30, there will be some omissions in the follow-up of the issuance in relevant analysis.

What about the switch of 200 million ERC20 USDT mentioned earlier? Will it be included in the correlation analysis? From the practical situation, after the issuance of additional shares, the relevant USDT entered the currency and security trading platform in a lump sum before the substantive issuance this month, so it will not affect our analysis.

In the end, we counted 2,206 of the major transfers made by the designated recipients for the trading platform, with a total amount of 1024,355,775.63 USDT.

The USDT of this issuance was mainly distributed to coinan, Huobi and Bitfinex, a trading platform related to teda. The sum of coinan and Huobi accounted for 86%, which is also in line with the analysis in the second part of our summary in March. Coinan and Huobi are the most active forces in the trading market. From the perspective of firecoin, users in developed OTC trading market have a strong demand for USDT, and as an active currency in the exchange, USDT is more needed to meet users' needs. We also found that many previous large USDT issuance and switching are related to USDT. It is after the transaction of these two trading platforms, especially after the purchase of bitcoin, ethereum and other mainstream currencies, investors may withdraw COINS to other trading platforms or services to participate in such businesses as contract trading, pledge lending, and wealth management.

Specifically, the currency and security received the most amount, a total of 584663116.80 USDT, the amount accounted for more than half, up to 57.08%, the number of transfer 767 times, the number of 34.77%
In second place is Huobi with a total of 299725950.02 USDT, accounting for 29.26% of the total amount and 1156 transfers, accounting for 52.40%.

From the perspective of the daily flow of additional USDT into the trading platform and the premium rate of USDT, especially after 3.12, the rapid decline of the premium rate does play a role in adjusting the supply and reducing the premium rate of USDT.

Is the demand of the market for the massive additional issuance of ERC20 USDT in March? Or is it a multi-party conspiracy? For this, we do not make evaluation, just present some data, hope to help your judgment and investment.

Disclaimer: the above data is obtained by Beijing chainan ChainsMap system based on the analysis of the public information on the bitcoin network chain. It is only for data research and analysis, and does not guarantee the absolute accuracy. We welcome all parties in the industry to testify and discuss together.

Original link:https://mp.weixin.qq.com/

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