Etherium News

Tether (USDT) Starts Migration to Ethereum Network

 Tether (USDT) Starts Migration to Ethereum Network
Tether (USDT) Starts Migration to Ethereum Network

Tether (USDT) is evolving and may end up moving more coins to the (ETH) network. A day earlier, Binance announced it would close withdrawals for Omni-based USDT, and switch to ERC-20 wallets, in effect serving as a token swap mechanism. Later, the CTO of Tether, Paolo Ardoino, explained the move, by stating that more USDT would be moved.

Tether will burn some of the tokens, but end up with a higher supply on the Ethereum network. Currently, there are 1.2 billion ERC-20 tokens, with 100 million tokens minted on July 4.

This article appeared first on Cryptovest

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