Tether (USDT) Cryptocurrency Sustaining Despite Massacre and high VolatilityMarch 18, 2020
Investors from across the world are looking for a hedge, and the circulating supply of the token has crossed 5.3 bln USDT.
Paolo Ardoino, CTO of Tether stated, “Mind-blowing #tether +160M in 24h.”
Bitcoin and several major cryptocurrencies have erased nearly 50% of their prices. Tether in the current scenario seems to be the only safe-haven asset. Tether sure proved itself during the Thursday Massacre. Several investors were converting their risky assets into crypto-cash equivalents.
The market caps of several other fiat-pegged stable coins also increased. USDC, considered to be the closest rival to Tether also increased its circulating supply.
Justin Sun of TRON Network tweeted: “The circulation amount of #TRC20- #USDT issued by @Tether_to on #TRON network exceeded 700 million.”
Justin Sun supported USDT by stating #TRC20-#USDT has a great number of advantages vs. other available #USDT on the market! Enjoy immediate transaction. Free handling fee. And different use cases such as trading, #TRON #Dapp, #BitTorrent and more be wise about your choice!
A recent Whale alert talked about 4,980,020 #USDT (5,038,554 USD), which got transferred from Tether Treasury to unknown wallet. Further about 8,599,994 #USDT (8,666,173 USD) transferred from unknown wallet to #Binance. These are just samples out of several transactions that are happening and continuing to happen.
Sydney Ifergan, the Crypto Expert tweeted: “Undeniably, the numbers of active addresses for Tether USDT is increasing. The Who, What and where is Questionable. It is surprising to see survivors and people who believe in crypto when even the top-crypto assets crash.”
Tether (USDT) Survivor Cryptocurrency
Tether converts cash into digital currency, to anchor or tether the value to the price of national currencies like the US dollar, the Euro, and the offshore Chinese Yuan.
The daily picture of the Tether USDT stable coin clearly reveals that the trading volumes are huge when compared to the market cap and the trend is escalating rapidly.
Tether is ready to believe in the doom story. It seems like they are set to make things happen. When the whole world is in gloom, Tether is enjoying a bloom! Survivors keep surviving.
Tether (USDT) is focused on bringing real world currency to blockchain. We need to watch to see if Tether will capture the place of XRP. It seems like there are too many pro-treasuries for Tether everywhere. Uncertain market situations mean nothing to this network at all!