Hupzy (Spot On Chain)|Jun 12, 2026 08:33
🚨 XMR surged 27% as a single wallet deployed $120M USDT — Tether just froze $72M of the remaining funds
ZachXBT traced a Tron address that received $120.2M USDT on June 11 and distributed it across KuCoin ($12M), instant exchanges ($8M), and Near Intents to BTC/ETH ($8M). The entity placed large Monero buy orders, pushing the price from $330 to $420 in hours. Tether has since blacklisted a related address holding $72M USDT.
https://x.com/WuBlockchain/status/2065347498575536286
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: The XMR surge was driven by a single entity's flow, not organic demand. With Tether freezing $72M of the remaining stablecoin capital, the buying pressure that powered the 27% move is now cut off. The KuCoin deposits and instant-exchange rotations suggest the actor was already exiting USDT positions before the freeze — if no fresh capital enters, the XMR bid could fade quickly.
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