On May 13, Tether Holdings, the creator of the stablecoin Tether (USDT) presented the crackup of its reserves done on March 31.
As stated in the report, the stablecoin's reserves are mainly composed of 75.85% cash and equals, then come secured loans, bond certificates, valuable metals, and other investments.
Tether is the largest stablecoin and the 6th largest cryptocurrency by market cap which stands at around $57.7 B. The rate of the unit is 1:1 pegged to the US dollar.
The stablecoin is released on over 8 blockchains: Algorand, Bitcoin Cash, EOS, Ethereum, Liquid Network, Omni, Solana, and Tron.
🎉Congrats on #TRC20-#USDT reaching the milestone of 30 Billion, as the best-performing stablecoin with immediate transactions and free handling fees on #TRON.— Justin Sun 🅣🌞 (@justinsuntron) May 13, 2021
📢The circulation amount of #TRC20-#USDT issued by @Tether_to on the #TRON network exceeded 30.9 Billion. pic.twitter.com/HCabocSNPj
The network has its native token TRX, which trades at around $0.12 and ranks 21st by market cap.