so this tweet happened directly after a eth tether were sent out. my guess would be someone is swapping out OMNI for ETH. .. cc @dividebyninehttps://twitter.com/whale_alert/status/1133757435292917761 …
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thanks for the confirmation. Is there a move to leave omni or just managing technical debt ?
We are seeing an increase of issuance of Tether on ETH, especially since one week ago. Bitfinex is also used a lot as a swapping center for traders to send in Tether Omni and get Tether ERC20 and viceversa. So we need to balance our books on demand.
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Can we expect to see a destroy event ?
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It's quite a while (3 weeks) we did not get a redeem request. Currently we see only demand for new issuance and seems there is a really strong confidence in Tether. When the trend will reverse we'll definitely see destroy event.
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