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USDT Whale Flows

The stablecoin rail of crypto markets. Track Tether (USDT) whale moves across Ethereum + Tron, with Tether Treasury mint/burn detection and plain-English context.

Last update: 2026-08-25 04:04 UTC · auto-refresh every hour · live data from on-chain Transfer events

Live snapshot · 24h cross-chain

Whale transfers (24h) 6,477 ≥ $1M USDT each
Total volume (24h) 28.92B USDT $28.92B USD-equivalent
Ethereum share 15.99B USDT 55% of 24h volume
Tron share 12.93B USDT 45% of 24h volume

Two-Layer live feed

Top USDT moves in the last 24 hours

Each row shows what happened (Layer 1) and why it might matter (Layer 2). Chain badge marks Ethereum vs Tron. Larger USDT amount first.

eth">Ethereum150.0M USDT moved on Ethereum from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
150.0M USDT 0x9c4826...06ab03 ↗
14:00 UTC
Tron100.0M USDT moved on Tron from an unlabelled wallet to Binance-Hot 7
stablecoin moving toward a trading venue — buying pressure often follows
100.0M USDT 5b0913d0...036e09 ↗
16:03 UTC
Tron100.0M USDT moved on Tron from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
100.0M USDT c28e514e...3fa381 ↗
15:53 UTC
Ethereum100.0M USDT moved on Ethereum from an unlabelled wallet to Bybit
stablecoin moving toward a trading venue — buying pressure often follows
100.0M USDT 0x7b8c06...5aebf1 ↗
22:27 UTC
Ethereum100.0M USDT moved on Ethereum from an unlabelled wallet to Bybit
stablecoin moving toward a trading venue — buying pressure often follows
100.0M USDT 0x1cf85f...bd1da6 ↗
22:27 UTC
Ethereum100.0M USDT moved on Ethereum from an unlabelled wallet to Bybit
stablecoin moving toward a trading venue — buying pressure often follows
100.0M USDT 0x60c629...fe61a7 ↗
22:27 UTC
Ethereum100.0M USDT moved on Ethereum from an unlabelled wallet to Binance 14
stablecoin moving toward a trading venue — buying pressure often follows
100.0M USDT 0xff7bee...ee2114 ↗
10:20 UTC
Ethereum100.0M USDT moved on Ethereum from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
100.0M USDT 0xcceb48...5f31ad ↗
08:50 UTC
Ethereum75.9M USDT moved on Ethereum from OKX to OKX
stablecoin moving toward a trading venue — buying pressure often follows
75.9M USDT 0xe74308...65155e ↗
20:49 UTC
Ethereum73.4M USDT moved on Ethereum from Binance 14 to Binance 16
stablecoin moving toward a trading venue — buying pressure often follows
73.4M USDT 0x7d4691...42b36e ↗
05:22 UTC

Tether Treasury · last 7 days

USDT supply changes

Canonical supply-changing events. Mints (issuance) and burns (redemption) by Tether Treasury on both chains. These flow into Tether's monthly attestation reports.

Minted (7d) 3.61B USDT 25 mint events · new USDT issued
Burned (7d) 4.21B USDT 14 burn events · USDT redeemed
Burn on Ethereum · ← 0x56ed...b17f · 08-25 02:18 UTC
−10.0M USDT
Burn on Ethereum · ← 0x8fee...2628 · 08-24 22:00 UTC
−45.0M USDT
Mint on Ethereum · → 0x22dd...bc85 · 08-24 21:03 UTC
+10.5M USDT
Mint on Tron · → TWLd8Z...GeCh · 08-24 20:58 UTC
+20.1M USDT
Mint on Tron · → TVMrLZ...PCCP · 08-24 17:04 UTC
+2.5M USDT
Mint on Tron · → TWLd8Z...GeCh · 08-24 14:03 UTC
+20.0M USDT
Burn on Ethereum · ← 0x56ed...b17f · 08-24 13:55 UTC
−30.2M USDT
Burn on Ethereum · ← 0x21a3...5549 · 08-24 13:51 UTC
−30.0M USDT

Cross-asset context

USDT is the stablecoin rail. Most crypto-market liquidity flows through Tether. When USDT moves to exchanges, buying pressure often follows; when USDT moves out, traders are de-risking. BTC ↔ USDT and ETH ↔ USDT rotation flows are tracked automatically and surfaced in our daily brief.

FAQ

Frequently asked

What counts as a USDT whale transaction?

Any on-chain Tether (USDT) transfer of ≥ $1,000,000 USDT in a single event. USDT has 6 decimals; we filter by raw value at the contract level. Both Ethereum (ERC-20, 0xdAC17F95…) and Tron (TRC-20, TR7NHqjeKQxGTCi8q8ZY4pL8…) are tracked from the contract's Transfer event log.

How is Tether Treasury identified?

Hard-coded canonical addresses per chain: 0x5754…b949 on Ethereum, TKHu…fQgFs on Tron. Mints = transfers FROM Treasury; burns = transfers TO Treasury. These are the same addresses Tether discloses in their monthly attestation reports.

What about USDT on Solana, Avalanche, etc.?

Phase 4 ships Ethereum + Tron (≈98% of USDT supply). USDT-on-Solana whale moves are visible via the SOL Spotlight (SPL token transfers). Other chains land in Phase 5.

How do I get the raw data?

REST API at /v1/usdt/whales/recent, /v1/usdt/whale/<txid>, /v1/usdt/address/<addr> (chain auto-detected from address format), /v1/usdt/treasury/events. Bearer authentication required (Research tier). Full OpenAPI 3.0 spec available.

When does the page update?

Every hour at minute :04. Live whale-feed lags ~1-3 minutes behind the chain (block-confirmation + indexer batching). For real-time alerts, follow the USDT Bluesky feed.