Tether releases USDT 9.3 billion on Tron blockchain

by in Cryptocurrency News


The capitalization of the stablecoin Tether (USDT) has started to grow rapidly since January last year. Many analysts are positive about this trend and believe that the inclusion of the printing press leads to an increase in the value of bitcoin.

Now the capitalization of USDT is just over $ 24.751 billion. Stablecoin is in the top three largest digital currencies, along with ether and bitcoin.

This week it became known about the release of a batch of tokens totaling up to $ 9.3 billion. The team released these coins on the Tron blockchain, said the leader of this project, Justin Sun.

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He also recalled that the first 10 USDT came out on the Tron base on April 17, 2019. Thus, 644 days later, for the first time on the blockchain, a large batch of stablecoins backed by fiat dollars was issued.

On January 11, it became known that the Tether team issued another 2 billion tokens, which is another record for stablecoin developers. According to CoinMetrics, the lion's share of tokens is issued on Ethereum.

Sam Trabucco, representing Alameda Research, previously emphasized that the growth in the capitalization of Tether is directly related to the growing distrust of people towards banks and traditional currencies. Traders prefer to massively buy USDT to enter the crypto sphere through this tool.