NEW!Incredible offer for our exclusive subscribers! Read More
Other

Tether's on-chain volume has surpassed the $1 trillion mark for the first time

1 Mins read

The Tether (USDT) stablecoin’s adjusted on-chain volume has surpassed the $1 trillion mark on a yearly basis for the first time, according to data compiled by The Block Research.

Источник: cryptonews.net

As of April 30, USDT had an adjusted on-chain volume of $1.01 trillion, i.e., a 64% market share of the total stablecoin transaction volume of 2021 to date (about $1.6 trillion).

On-chain transaction volume is any value transfer within a blockchain network, such as buys, sells (trading), and sends (remittances). Moreover, it is “adjusted” by Coin Metrics, the source firm of the data, in order to filter out duplicates and wash trading as much as possible.

“Surpassing the US$1 trillion mark in on-chain volume represents yet another milestone in Tether’s ascent,” Tether CTO Paolo Ardoino told The Block.

USDT is followed by the USDC stablecoin with a market share of around 20% at $312 billion, and Dai with an 8% market share at $114 billion, as of April 30.

Source: The Block Research, Coin Metrics

To be sure, the on-chain data does not include trading volumes of centralized exchanges for USDT pairs as that data is off-chain. Such trading volume via USDT would likely be higher since USDT is one of the preferred pairs to trade crypto by large investors.

Related posts
CryptoNewsOther

ILLUVIUM x UPLINEX Fight for ETH! $25,000+ prize pool!

1 Mins read
ILLUVIUM x UPLINEX Fight for ETH! $25,000+ prize pool! The ILLUVIUM pleased to announce the start of the next and long-awaited distribution…
AltcoinsBTCCryptoETHOther

ilonbit.net protects your money — Scheduled

2 Mins read
ilonbit.com Exchange, as bitcoin becomes more popular, more exchanges are springing up to buy, trade, and sell various cryptocurrencies. As a result, choose…
AltcoinsBTCCryptoETHOtherTrading

Exzus.com | Review of the exchange in 2022 | 

2 Mins read
exzus.com Exchange, as bitcoin becomes more popular, more exchanges are springing up to buy, trade, and sell various cryptocurrencies. As a result, choose…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *