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BTC $63,002.92 +0.05%
ETH $1,877.78 -0.06%
BNB $604.13 -1.09%
XRP $0.9993 -0.49%
SOL $75.28 +0.01%
TRX $0.3310 -0.38%
DOGE $0.0695 -0.62%
ADA $0.1765 -1.78%
BCH $202.80 -1.35%
LINK $9.36 -0.82%
HYPE $56.86 +1.19%
AAVE $85.79 -1.15%
SUI $0.6729 -1.76%
XLM $0.1566 -1.38%
ZEC $485.48 -1.18%

Tether burned 2.5 billion USDT on Ethereum in a single day, the largest scale since February

2026-07-08 12:08:05

CryptoQuant, citing on-chain data analysis, states that Tether Treasury has destroyed $2.5 billion worth of USDT on the Ethereum network, marking the largest single destruction on this network since February of this year. This scale exceeds the $2 billion destruction on May 8 and is second only to the historical high of $3.5 billion on February 10.

Meanwhile, the USDT balance flowing in and out of Binance through the Tron network has dropped to approximately $806 million, the lowest level since December 29, 2025 ($391 million), falling below the $1 billion mark, indicating a significant contraction in USDT liquidity in the Binance Tron channel. The large-scale destruction by Tether Treasury itself reflects more on redemptions, fund management, or cross-chain rebalancing operations rather than being a direct market signal; however, the simultaneous contraction of Ethereum's supply side and Binance's Tron liquidity is worth ongoing attention to see if the trend of tightening liquidity in dual-chain stablecoins continues.

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