Tether has sent a large pool of USDT tokens worth an estimated $300 million to Binance.

The submission was made yesterday, September 12th.

According to the company’s official website, this is part of a currency swap from the Omni protocol to ERC-20.

This means a shift towards the Ethereum network, which will witness more transactions based on the ERC-20 protocol in the future.

The deal was revealed by the Big Deal Tracker Twitter account whale alert Immediately afterwards, the Tether administration commented that the amount transferred was intended to convert Omni-based USDT tokens to ERC20 tokens.

The process of switching to the Ethereum ERC-20 protocol will increase the pressure on the Ethereum network, which already constitutes a large portion of all transactions on the Ethereum network.

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At the time of writing this topic, the use of the Ethereum network reached 93%, which means that the network is nearing fullness and that there is not enough space for new projects.

Concern increased after Tether became one of the main projects operating and using the Ethereum network.

For the record, work is underway to search for ways to develop expansion and interoperability mechanisms on the Ethereum network, and how to address this as soon as possible.

According to previous statements by one of the founders of Ethereum, Vitalik Buterin, the increased use of the network may cause higher transaction costs as well.

This is what might make potential users reluctant to use the network.

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