Trading volume in USDT exceeded $ 1 trillion year-on-year for the first time, according to data compiled by "The Block Research".
As of April 30, USDT has reached a level of $ 1.01 trillion, representing a market share of 64% of the total stablecoin transaction volume for 2021 so far (total volume is around $ 1.6 trillion).
Transaction volume on the chain is any transfer of value within the blockchain network, such as buying and selling (trading) and sending (transfers).
In addition, they are “modified” by the “Coin Metrics” platform, in order to filter duplicates and sort trades as much as possible.
Mr. Paulo Arduino, Technical Director of Tether's CTO, said:
The $ 1 trillion mark in size on the series marks another milestone in Tether's rise.
The USDT stablecoin follows the USDC stablecoin with a market share of about 20% at $ 312 billion, and Dai with an 8% market share at $ 114 billion, as of April 30.
Source: The Block Research, Coin Metrics
The data on the chain certainly does not include the trading volumes of the central trading platforms for USDT pairs as this data is out of the chain.
This USDT trade volume is likely to be higher given that USDT is one of the preferred pairs for trading cryptocurrencies by many investors.
In the past few hours, the stable digital currency Tether has reached 50 billion dollars in terms of market value.
This marks an impressive milestone for the controversial stable digital currency.
It is worth noting that the market value of the coin "Tether" has grown in record time from 30 billion dollars in February to approximately 51 billion dollars at the time of writing this article.
As it is known, Tether is expanding its presence in the digital currency, Tether, to be present in various and diverse blockchain networks, but the most prominent networks supporting USDT, which are popular with users, are Tron and Ethereum.
Recently the number of Thether on the Tron blockchain exceeded that of the Ethereum blockchain by more than $ 1.6 billion.
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