Since the beginning of the year, the capitalization of Tether has grown 4 times and exceeded $ 15 billion
The capitalization of the first stablecoin exceeded $ 15 billion. The issuer company writes about this in its twitter.
The situation this year is favorable for the rapid growth of stablecoin. The volume of USDT in circulation in January was equal to a little over 4 billion units. The March collapse of the markets forced investors to turn to more stable assets. USDT is also widely used in the booming decentralized finance sector. For this reason, over the past month, USDT capitalization has increased by $ 3 billion.
Analyst John Paul Koning reported that Tether had an average daily transaction volume of $ 3.55 billion, while PayPal had $ 2.94 billion in the second quarter.Tether is increasingly consolidating its position as the third largest crypto asset thanks to the continuing recovery. , moving away from XRP, which currently has a capitalization of $ 11.5 billion.
“2020, the year of Tether. The road to 20 billion and beyond, “wrote Tether CTO Paolo Ardoino. He also added that due to the rapid growth in emissions, from now on, he will only report on new USDT records in multiples of five.
According to Flipsidecrypto, the largest volume of transactions in USDT still falls on centralized exchanges. The largest holders of stablecoin remain Binance and Bitfinex, each of which has 1 billion tokens in their wallets.
Tether’s “transparency page” reports that the USDT volume on the Ethereum blockchain has exceeded 10 billion units. It is followed by Tron and Omni, which was originally used by Tether, with 4.2 billion and 1.3 billion, respectively. Over the past month, Tether has implemented two USDT 1bn swaps to move tokens from the Tron blockchain to Ethereum to meet current user needs.