- 1 billion USDT was sent to HTX
- Justin Sun hinted at a connection between the “two biggest exchanges” and TRX
- He also talked about meme coins, saying that he’ll personally reimburse creators and users for losses
A substantial transfer of 1 billion USDT was carried out from the Tether Treasury to the crypto exchange HTX today. Given that USDT is a widely used stablecoin in the crypto market that offers high liquidity and stability, and HTX being a global player with over 700 cryptocurrencies listed, the market pump speculation seems to have some merit.
What’s more, the same day, Justin Sun, the founder of Tron and an advisor for HTX, posted a rather ambiguous post on X saying, “the two biggest exchanges in the world are about to have a TRX szn soon.”
Could Coinbase Be the Next Big Exchange to Embrace Tron (TRX)?
Could he be hinting that TRX is finally going to be listed on Coinbase, one of the biggest exchanges in the world, along with Binance where users can already buy, sell, convert, or stake TRX? Perhaps it will experience a significant boost on Bybit? So far, details are scarce, leaving room for speculation.
And there is no shortage of guesses, as expected. Sun’s post immediately sparked theories about potential new projects or big market moves related to Tron and HTX.
What Else Has Justin Sun Been Saying About Tron Lately?
While it’s not 100% clear what Sun is hinting at, he was seen discussing meme coins on Tron.
He pledged to personally reimburse creators and users for losses while stating he would not profit. In addition, Sun indicated that all gains would be donated to charity.
Related: TRX Surges 6% as Justin Sun Declares Tron’s Meme Coin Focus, Vows No Personal Profit
Why Is The USDT Transfer to HTX So Significant?
HTX, which you might remember as Huobi before its rebranding in the second half of 2023, is headquartered in Seychelles and now operates in over 160 countries, serving more than 50 million customers globally. The exchange offers a wide array of services, including spot trading, futures trading with up to 200x leverage, and margin trading with up to 5x. They also see over $4 billion in trading volume every day.
Related: Create Your Own Meme Coin: Justin Sun’s Sunpump & HTX Make It Easy
An exchange this size getting a $1 billion USDT injection can definitely have a noticeable impact on the cryptocurrency market. It’s also interesting to note that in a way, this aligns with Sun’s previous announcements regarding capital thresholds.
Mainly, in February, he outlined a target to increase the capital threshold to 3 billion USDT, indicating a planned increase in capital deployment that could influence cryptocurrency market liquidity and trading activity.
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