Today, the stable currency Tether (USDT) has reached a market capitalization of $ 17 billion in total, on the various blockchains in which it operates.
In fact, this stablecoin is not only found on one but several blockchains and this means more interoperability and elasticity when using it, especially since it is easier to use for trading in this way.
This is a stable currency that is “independent of the block chain”, That is, it has decided not to favor one chain of blocks over another to use them all equally and prioritize usability on the user side.
The most successful blockchains that host this stablecoin include Ethereum, which has more than 11 billion USDT, then there is TRON with just under 5 billion USDT, while Omni is in third place with 1.3 billion USDT and EOS is in fourth place with more than 90 million USDT.
The success of this asset also depends on and stems from the success of the decentralized finance (DeFi) sector, which was the driving force for all of 2020 with many interesting cases, also kicked off thanks to the liquidity mining of various protocols.
Tether, the market capitalization with spectacular growth
The use of Tether is inevitable and has now become the main stablecoin used by users, as noted by the CTO of Tether and Bitfinex, Paolo Ardoino:
“Tether's growth in 2020 has been spectacular. Now we are talking about the Tetherization of trade, with most of the spot trade volume now denominated in Tether. The market has spoken: Tether is preeminent. People trust Tether and they like to use the most liquid, stable and popular stablecoin of cryptocurrencies.
Also, just a few hours ago, Tether announced that it was listed on the country's most popular Turkish exchange, BtcTurk. Turkey is a country where the adoption of cryptocurrencies is increasing very rapidly, which means that perhaps thanks to this Tether new market capitalization records will be reached.