In the 30 days to November 2, 2026, Chainflip completed 3,391 BTC to USDT swaps worth $67.2M (Chainflip swap data, last 30 days). That route gives a concrete data point on where native bitcoin goes once it leaves the Bitcoin chain. This piece breaks it down, flags what distorts the wider picture, and shows how to swap native BTC to USDT or map any other BTC destination yourself.
Every figure here is at time of writing. Chainflip's all-time swap volume stands at $10.16B on Chainflip Scan. For general user behavior, integrator routes and aggregate totals, see What Nearly 900K Swaps and $9B in Volume Tell Us About Cross-Chain User Behavior, THORSwap + Chainflip 6 Months Later and the Q3 2026 Report on the Chainflip blog. This article stays narrow: BTC in, something else out.
Key figures at time of writing
Metric | Figure | Window | Source |
|---|---|---|---|
BTC to USDT completed swaps | 3,391 | 30 days to 2026-11-02 | |
BTC to USDT volume | $67.2M | 30 days to 2026-11-02 | |
BTC to USDT deposit seen to payout sent | 8.5 min median; 9 in 10 within 24.1 min | 30 days to 2026-11-02 | |
BTC to USDT swaps using Boost | 42% | 30 days to 2026-11-02 | |
All-time swap volume (all routes) | $10.16B | At time of writing | |
Tron route early activity | $6.62M across 403 swaps | Launch to June 26, 2026 | |
Tron USDT exploit | 736,442.17 USDT across six unauthorized payouts | Network paused Sept 12, 2026 | |
BNB Chain (BNB, USDT) and cbBTC (Ethereum) | Listed as new in protocol version 2.3 | Recent |
BTC to USDT: 3,391 swaps and $67.2M in 30 days
This figure counts completed user swaps that started as native BTC and ended as USDT. USDT is a common exit for BTC holders who want to take profit, pay someone, or park value without touching a bank. Chainflip offers USDT on Ethereum, Solana, Arbitrum, Polkadot Assethub and Tron, so this one route spans several destination chains.
The headline number hides the size distribution. Dividing volume by swap count gives you a mean, but a few large swaps can pull it well above what a typical user sends. The median swap size, which you can pull from Scan, is the better read on a typical BTC to USDT trade.
For readers, the takeaway is practical: this corridor sees steady daily use, so quotes reflect live activity rather than a dormant pool. If you sit on the BTC side of this flow, the sell native BTC page covers your options, and the buy USDT with native assets page shows the reverse view.
8.5 minutes from deposit to payout
The median time from Chainflip seeing a BTC deposit to sending the USDT payout was 8.5 minutes, and 9 in 10 swaps paid out within 24.1 minutes (Chainflip swap data, last 30 days). Add the destination chain's own confirmation time on top. Most of that window comes from waiting on Bitcoin blocks, not from the swap itself.
Chainflip's vaults are secured by validators under a decentralized custody model, with no centralized custodian holding funds between legs. The validator set witnesses the BTC deposit, executes the swap, and signs the outbound payment together. Our technical breakdown of direct BTC settlement covers how that works without wrapping.
42% of BTC to USDT swaps used Boost
Boost lets liquidity providers front a BTC deposit so the swap proceeds before the deposit reaches full confirmation. In the last 30 days, 42% of BTC to USDT swaps took that option. Users paid a small extra fee to cut waiting time, which tells you speed matters to a large share of people exiting BTC.
The Boost share matters most to BTC holders who supply liquidity. Boost demand on this corridor is the fee source for single-sided Boost pools. If you are deciding where to put idle BTC, our comparison of Boost and Lending 2.0 walks through the tradeoffs.
The Tron route and the 736,442.17 USDT exploit
An attacker extracted 736,442.17 USDT through six unauthorized payouts from Chainflip's TRON USDT integration, and Chainflip paused the network on Saturday, September 12, 2026 (CryptoTimes). The pause covered swaps across the whole protocol while the team finalized a restart procedure for an already developed fix (Blockfence). Chainflip also said a user swap of 115,654.41 USDT remained in the vault, to be paid after a secure restart.
By September 16, swaps and quoting had resumed across the rest of the network with TRON still excluded, and affected TRON USDT liquidity provider balances were reset to zero pending an accounting migration (Cryptopond). Our 30-day window starts after the network-wide pause, so the halt itself sits outside the BTC to USDT figures above. Any window that includes September, such as Q3, will understate BTC to TRX and BTC to USDT-TRC20, and if the Tron route stayed offline into October, USDT demand that would have settled on Tron shows up on other chains or not at all.
BNB Chain and cbBTC: too new to show a meaningful share
Chainflip's docs list BSC as a new chain with BNB and USDT, and cbBTC as a new ERC-20 asset on Ethereum, both under protocol version 2.3 (Chainflip Docs). Because they are the newest entries, any share they show in BTC outflows will be small, limited to a short window, or zero. Read a low number as a function of timing, not demand, and check the swap app for current route availability.
How to map every BTC destination yourself
We only publish verified route data for BTC to USDT here. For BTC to SOL, BTC to ETH, BTC to USDC, BTC to TRX and the rest, you can build the breakdown from the explorer in a few steps.
Open Chainflip Scan and go to the swaps view.
Filter by source asset BTC and set a fixed date range.
Group results by destination asset and chain, keeping USDT on Ethereum separate from USDT on Solana, Arbitrum, Assethub and Tron.
For each route, record swap count, total volume, mean size and median size.
Note any pause dates or new listings that fall inside your window.
A big gap between mean and median on a route signals a few whales dominating volume. If you are new to the explorer, the How to Read a Chainflip Swap on Scan walkthrough on the blog explains each field. For the Solana side specifically, our guide to swapping native BTC to SOL shows the route in practice.
Outbound vs inbound: the Tron baseline
Flip the filter to destination asset BTC and you get the inflow side. Chainflip's own early data shows the Tron route processed $6.62M across 403 swaps after launch, with users exiting Tron toward Bitcoin through large, DCA-routed USDT-TRC20 moves (Chainflip blog). Inflows on that corridor skewed large and chunked, which is a different shape from a high-count stablecoin exit.
DCA splits one order into smaller chunks over time, so check whether your count treats a DCA order as one swap or several before comparing routes. Otherwise inbound swap counts look inflated and average sizes look smaller than the real orders behind them.
What the BTC flow data means
At time of writing, BTC to USDT is a busy, fast route: 3,391 swaps, $67.2M in volume, an 8.5-minute median payout, and 42% of users paying for Boost. The rest of the outbound map depends on your window, and both the September Tron pause and the recent version 2.3 listings change what you will see.
Pull the data yourself on Chainflip Scan, and when you are ready to move, swap native BTC to the asset and chain you actually need.
Resources
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Blog - Product updates and announcements
Chainflip Scan - Track swaps and network activity
Website - Explore Chainflip
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FAQ
How much BTC was swapped to USDT on Chainflip recently?
In the 30 days to November 2, 2026, Chainflip completed 3,391 BTC to USDT swaps worth $67.2M, according to Chainflip swap data behind scan.chainflip.io.
How long does a BTC to USDT swap take on Chainflip?
Over the same 30 days, the median time from deposit seen to payout sent was 8.5 minutes, and 9 in 10 swaps paid out within 24.1 minutes. Add the destination chain's own confirmation time on top.
Did the September 2026 Tron exploit affect BTC swap data?
Chainflip paused the network on September 12, 2026, after 736,442.17 USDT left through six unauthorized payouts, and resumed most swaps by September 16 with TRON excluded. Any analysis window that includes September will understate BTC to TRX and BTC to USDT-TRC20 activity.
Can I see BTC flows to BNB Chain or cbBTC?
Chainflip's docs list BSC (BNB and USDT) and cbBTC on Ethereum as new in protocol version 2.3. Because they are recent additions, their share of BTC outflows will be small or limited to a short window, so check the swap app for availability and Scan for any history.
How can I verify these figures myself?
Open scan.chainflip.io, filter swaps by source asset BTC, set a date range, and group by destination asset and chain. Compare median and mean swap sizes per route, and note any pauses or new listings in your window.
