Tether USDT on newly supported chains is growing well. Tether on $SOL now at 180M Tether on $ALGO now at 90M.
One USDT is making it on many chains. It is about adoption by exchanges, liquidity, speed and fees. Of all the chains, TRON at present is unbeatable for USDT.
No denying that USDT on SOL permits users to transact virtually free and instantly.
Bloomberg pointed to how Tether has topped $50 billion in circulation, more than the insured deposits at almost all U.S. banks. Also, stated, its first quarterly reserves statement this month will be worth a look.
One of the users stated, insured deposits amount is just 1% of total deposits. Basically the insurance is worthless.
However, from $1B to $50B in only 4 years, this is the evolution of Tether’s market Cap. In response to anyone who talks about Tether backing, Paolo has to say: ““Tethers are 100 percent backed, full-stop.”
Someone who paid no heed to the Paolo Ardoino Full Stop stated: “It’s easy to say something is fully backed when it’s mainly backed by the asset that it’s pumping…….. I mean yes, this is extremely genius, and I got rich of this too, but come on.”
Someone else stated, Paolo, what is the point of these posts? Everything will be public knowledge in 19 days when you obviously meet the NYAG settlement obligations. These aren’t being tweeted from a private jet are they? Others are like: Why don’t you show some proof and end this controversy once and for all?
Paolo Ardoino tweeted: PS does someone know the addresses of @bitfinexed, @ahcastor, and @BennettTomlin? This will make their Sunday.
In response one of the users stated, when you see the price of Bitcoin hitting new highs like this, it means large holders are cashing out—ahead of the crash, which they all know is coming.
However, someone who believed in HODL stated, you need to do more research before posting FUD like that LOL. More BTC than ever is in cold storage and the new wallets are the ones that are panic selling.
Despite all Tether continues with its charm: In just over one year, Tether market cap has grown in scale by more than ten times, surpassing $50B. Yes, $50B is a significant milestone, but this is just the start. A lot of big news will come for Tether, along with a new website. They are busy with – Who would like some limited edition Tether Merch?
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