- Large USDT transfers coincided with a sharp Monero price jump.
- ZachXBT linked whale activity to XMR rally from $330 to $420.
- Tether froze a related Tron address holding $72 million USDT.
Monero Surge became one of the biggest stories in crypto markets after blockchain investigator ZachXBT connected unusual wallet activity to a sharp spike in XMR prices. According to his findings, a Tron address received 120.2 million USDT on June 11 and later distributed funds across exchanges, instant swap services, and cross-chain routes. The activity coincided with a significant Monero Surge, sending XMR from roughly $330 to $420 before retracing.
The incident drew additional attention after Tether blacklisted a related Tron wallet holding more than $72 million USDT. The combination of large transfers, aggressive buying, and a subsequent freeze has sparked discussion across the crypto industry.
Monero Surge Fueled by Massive Orders and Cross Chain Transfers
The reported Monero Surge occurred after the entity moved substantial amounts of capital through several channels. ZachXBT stated that more than $12 million was sent to KuCoin deposit addresses, while another $8 million moved through instant exchanges. An additional $8 million reportedly travelled through Near Intents into Bitcoin and Ethereum.
According to the investigator, the same entity placed sizeable Monero buy orders that accelerated upward momentum. These purchases pushed XMR from approximately $330 to $420 within a short period.
The Monero Surge highlighted the impact that large orders can have on markets with lower liquidity. Unlike Bitcoin and Ethereum, Monero has fewer exchange listings and reduced market depth, making it more sensitive to concentrated buying activity.
Although prices later cooled, XMR continued trading above previous levels. Market data showed Monero changing hands near $357 after recording a 24-hour range between $345 and $438.
Monero Surge Followed by Tether Freeze of Related Wallet
The story expanded when Tether froze a related Tron address holding approximately 72 million USDT. Blockchain data from Whale Alert confirmed that more than 72 million USDT became inaccessible following the blacklist action.
The Monero Surge and subsequent freeze demonstrate how issuer-controlled stablecoins differ from decentralized cryptocurrencies. While Bitcoin and Monero transactions cannot be directly frozen by a central authority, stablecoin issuers retain the ability to block addresses at the contract level.
ZachXBT identified the frozen wallet as directly connected to the broader transaction network involved in the transfers. The action follows a broader enforcement trend. Tether previously froze roughly $515 million in USDT across Ethereum and Tron during 30 days in May.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.