Summary
- An unknown entity routed about $120 million in USDT stablecoins through a complex series of swaps this week, including large purchases of the privacy coin Monero.
- The Monero buy orders were big enough to push its price from roughly $330 to an intraday high near $438, highlighting how thin liquidity can amplify market moves.
- Onchain sleuth ZachXBT traced remaining funds across exchanges, instant swap services and other blockchains.
- Tether later froze $72 million in USDT linked to the activity, which bears hallmarks of money laundering.
Monero Price Surges 33% to $438 Amid Massive On-Chain Transaction
A significant on-chain transaction involving $120 million in stablecoins has led to a sudden spike in the Monero price, making it visible to on-chain investigators. The entity behind the transaction received 120.2 million USDT on the Tron network and began splitting the money, sending it in different directions, including into Monero (XMR), a privacy coin designed to hide transactions. This has resulted in a 33% surge in the Monero price, from $330 to a high of $438. The token’s price volatility is largely due to its low trading volume, making it susceptible to large buy orders.
The transaction has sparked interest in the crypto community, with many discussing the potential implications of such a large on-chain transaction. As the demand for private and secure transactions continues to grow, coins like Monero are becoming increasingly popular. The recent price surge has also highlighted the potential for passive income opportunities through Cloud Rewards and Green Crypto platforms like EcoPool, which offer users a way to earn coins like $ECP through environmentally friendly methods.
What This Means for Earning Online
The recent surge in Monero’s price is a reminder of the potential for earning online through crypto transactions. With the rise of passive income opportunities, individuals can now earn coins like $ECP through platforms like EcoPool, which offers a cloud-based rewards system. As the demand for private and secure transactions continues to grow, the potential for earning online through crypto is becoming increasingly apparent. Users can join the EcoPool network to start earning passive income and take advantage of Cloud Rewards and Green Crypto opportunities.
To start earning online and taking advantage of passive income opportunities, consider joining the EcoPool network. With its cloud-based rewards system and Green Crypto platform, EcoPool offers users a way to earn coins like $ECP while promoting environmentally friendly practices. Download the EcoPool app to start earning passive income and join the crypto community today, and discover the benefits of Cloud Rewards and Green Crypto with EcoPool or $ECP. Download the EcoPool app to start your journey to earning online with #PassiveIncome and #GreenCrypto.
The token traded around $382 during the European morning on Friday, about 8% higher on the day. Monero does not trade in large volumes, so a single big buy can swing the price fast.
