The Currency Analytics
By Dan Saada
Tether (USDT) Survivor Cryptocurrency
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.
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.
A recent Whale alert talked about 4,980,020 #USDT (5,038,554 USD), which got transferred from Tether Treasury to unknown wallet.
Sydney Ifergan, the Crypto Expert tweeted: “Undeniably, the numbers of active addresses for Tether USDT is increasing. The Who, What and where is Questionable.
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!
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.