The market value of Tether has exceeded 15 billion US dollars. Is USDT in danger of thunder?
Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: MARTIN YOUNG, reprinted by Odaily with authorization.
Editor's Note: This article comes from
Cointelegraph Chinese (ID: CointelegraphChina)to report, Author: MARTIN YOUNG, reprinted by Odaily with authorization.
The boom in the DeFi space has led to massive Tether minting in 2020, with $3 billion minted in the last month alone. That puts its market cap at more than $15 billion.
At the beginning of the year, USDT had just over $4 billion in circulation, and today that figure is over $15 billion. DeFi has been the driving force behind Tether’s issuance, as more and more liquidity pools are based on stablecoins. according to
Last month, Tether’s average daily transfer value surpassed that of PayPal as demand for the stablecoin continued to soar.
according toFlipsidecrypto.comTether's market cap just surpassed $15 billion!
according toIn just one month, Tether's market capitalization has increased by over $3 billion, maintaining its #1 position among all cryptocurrencies: the most liquid, stable and trustworthy!Major centralized exchanges still account for the lion’s share of USDT trades, with Binance and Bitfinex holding about $2 billion, the data showed.
As reported by Cointelegraphaccording to
The Tether Transparency Report
, UDST on Ethereum has now grown to over $10 billion, accounting for almost two-thirds of the entire supply. Currently, Tron has about $4.2 billion and Omni has about $1.3 billion.
As reported by Cointelegraph
On Sept. 15, Tether initiated another swap as demand for the ERC-20 version of the stablecoin outstripped that of other networks such as Tron.
Tomorrow Tether will partner with a third party for a $1 billion Tether swap (conversion from Tron to ERC20 protocol).
September 14, 2020a letterHowever, Ethereum-based Tether is currently being moved to other networks as gas fees continue to cripple the Ethereum network. Over the past month, USDT has become available on the layer 2 OMG network and launched on the high-speed Solana blockchain.Meanwhile, some in the cryptocurrency community are still calling for a full audit to determine if there are $15 billion in real dollars and assets backing the Tether stablecoin, or if the whole thing is completely shaky.The truth may be revealed in the ongoing Tether lawsuit in New York. The New York Office of the Attorney General (OAG) filed on September 8
