Genuine question @paoloardoino, would appreciate a response...
Do you know why #huobi sends $100m $USDT in 10 x $10m #tether
tranches to bitfinex regularly & then, c. 20mins after the last transaction, #bitfinex sends $100m USDT back to them? Happens about every other day.Why?!
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Replying to @dkcrypto13
Huobi sends ~100M Tether TRC20 (on Tron) every few days and gets back to ~100M Tether ERC20 (on Ethereum). While Tether direct customers acquire mainly TRC20, Huobi users seem to prefer ERC20. Hence Huobi uses
@bitfinex as a swapping facility.5 replies 0 retweets 15 likes -
thanks for clarifying, very helpful as always. Do you know why Huobi's users perfer ERC20 if TRC20 is cheaper and faster. I just noticed only ERC20 USDT can be deposited on fiat exchanges like Kraken, do you think this has something to do with it? thanks
1 reply 0 retweets 1 like
I think maybe it's easier for their users to enter in DeFi via ERC20. But it's just speculation.
6:02 AM - 29 Dec 2020
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