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Tether (USDT) Inflows Boost Chinese Exchanges; Stablecoin Continues to Grow Despite Concerns

 Tether (USDT) Inflows Boost Chinese Exchanges; Stablecoin Continues to Grow Despite Concerns
Tether (USDT) Inflows Boost Chinese Exchanges; Stablecoin Continues to Grow Despite Concerns

Tether (USDT) keeps growing, now on multiple chains and with regular new printing. The total supply of USDT grew by around 400 million in the past month, to 3.229 billion coins. The printings once again coincide with increased (BTC) price activity, where the leading coin touched the $9,000 level briefly.

Ethereum-based USDT adds another 650 million coins, of which 56% are kept within wallets belonging to Binance and other leading exchanges. There are also 10 million USDT based on , as well as around 37 million TRON-based USDT. The alternatives to the OMNI layer add significantly to the supply of USDT, which may cross the 4 billion mark if the trend for new printings continues.

Worries that loss of trust may translate into a fast market crash have existed ever since USDT…

This article appeared first on Cryptovest

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Source: investing.com
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