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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: 2026-10-09 05:04 UTC · auto-refresh every hour · live data from on-chain Transfer events

Live snapshot · 24h cross-chain

Whale transfers (24h) 6,987 ≥ $1M USDT each
Total volume (24h) 61.64B USDT $61.64B USD-equivalent
Ethereum share 48.00B USDT 78% of 24h volume
Tron share 13.64B USDT 22% 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.

Tron93.5M USDT moved on Tron from OKX to OKX
stablecoin moving toward a trading venue — buying pressure often follows
93.5M USDT db3fcf54...af29be ↗
05:54 UTC
Tron88.8M USDT moved on Tron from OKX to OKX
stablecoin moving toward a trading venue — buying pressure often follows
88.8M USDT 0549378c...7b92be ↗
05:56 UTC
eth">Ethereum84.6M USDT moved on Ethereum from Morpho Blue to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
84.6M USDT 0xd15d3d...d54ade ↗
19:29 UTC
Ethereum83.5M USDT moved on Ethereum from Morpho Blue to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
83.5M USDT 0x4930d1...809338 ↗
01:24 UTC
Tron82.7M USDT moved on Tron from OKX to OKX
stablecoin moving toward a trading venue — buying pressure often follows
82.7M USDT cfec8d84...090089 ↗
08:54 UTC
Ethereum81.7M USDT moved on Ethereum from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
81.7M USDT 0x13ec34...ccd2f0 ↗
00:00 UTC
Ethereum81.6M USDT moved on Ethereum from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
81.6M USDT 0xee0bff...4f4e98 ↗
23:59 UTC
Ethereum81.6M USDT moved on Ethereum from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
81.6M USDT 0x18d29a...53cdff ↗
23:58 UTC
Ethereum81.4M USDT moved on Ethereum from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
81.4M USDT 0xd63d57...e84f16 ↗
23:42 UTC
Ethereum81.4M USDT moved on Ethereum from an unlabelled wallet to an unlabelled wallet
mega-size off-exchange move — likely institutional OTC or treasury rebalance
81.4M USDT 0x11c79f...6ce603 ↗
23:42 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) 1.06B USDT 19 mint events · new USDT issued
Burned (7d) 921.1M USDT 9 burn events · USDT redeemed
Burn on Ethereum · ← 0xb70b...25e7 · 10-09 03:45 UTC
−6.0M USDT
Mint on Tron · → TMhxCk...u9mW · 10-09 00:54 UTC
+2.5M USDT
Burn on Tron · ← TXFBqB...JodJ · 10-08 19:02 UTC
−30.0M USDT
Mint on Tron · → TVWi2A...i1RS · 10-08 18:00 UTC
+2.6M USDT
Mint on Ethereum · → 0x17dc...403a · 10-08 14:15 UTC
+50.0M USDT
Mint on Ethereum · → 0x7713...35ec · 10-08 12:32 UTC
+50.0M USDT
Mint on Tron · → TVWi2A...i1RS · 10-07 16:47 UTC
+1.6M USDT
Mint on Ethereum · → 0xb660...7ea2 · 10-07 16:20 UTC
+15.0M 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.