• Latest
  • Trending
Tether (USDT) Market Cap Surpasses Billion, Majority Issued on Tron Blockchain

Tether (USDT) Market Cap Surpasses Billion, Majority Issued on Tron Blockchain

October 22, 2021
SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests

SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests

March 18, 2023
Top 10,000 Bitcoin investors control one-third of the supply

Top 10,000 Bitcoin investors control one-third of the supply

March 18, 2023
What are distributed systems, and how do they work?

What are distributed systems, and how do they work?

March 18, 2023
Insane Bet by Balaji Srinivasan

Insane Bet by Balaji Srinivasan

March 18, 2023
The Brave Browser Introduces a Revolutionary Way to Sell Crypto | by Crypto Beat | The Capital Platform | Mar, 2023

The Brave Browser Introduces a Revolutionary Way to Sell Crypto | by Crypto Beat | The Capital Platform | Mar, 2023

March 18, 2023
Friendliness Toward Crypto ‘Does Not Exist’

Friendliness Toward Crypto ‘Does Not Exist’

March 18, 2023
HappyMiner provides high-quality cloud mining services for passive income

HappyMiner provides high-quality cloud mining services for passive income

March 18, 2023
Sam Bankman-Fried to propose revised bail package ‘by next week’

Sam Bankman-Fried to propose revised bail package ‘by next week’

March 18, 2023
Pro-Ripple Lawyer Slams Jim Cramer’s Faulty Bitcoin Advice as BTC Surges 36%

Pro-Ripple Lawyer Slams Jim Cramer’s Faulty Bitcoin Advice as BTC Surges 36%

March 18, 2023
  • Privacy Policy
Saturday, March 18, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

Tether (USDT) Market Cap Surpasses Billion, Majority Issued on Tron Blockchain

J_News by J_News
October 22, 2021
in Crypto Technical Analysis, Top News
0
Tether (USDT) Market Cap Surpasses Billion, Majority Issued on Tron Blockchain
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter


As the price of Bitcoin hits a new all-time high of $67,000, the market cap of the largest stablecoin, Tether (USDT), has gone to surpass $70 billion in market cap.

The majority of Tether’s 70 billion supply, 51.42%, is issued on Tron (TRX) blockchain at almost 36 billion, followed by Ether which has 33.85 billion USDT supply circulating on its blockchain.

Related articles

SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests

SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests

March 18, 2023
Top 10,000 Bitcoin investors control one-third of the supply

Top 10,000 Bitcoin investors control one-third of the supply

March 18, 2023

The rest of the USDT supply is scattered on other blockchains, including Omni, Solana, Algorand, EOS, Liquid, and SLP.

After growing 41.7 billion in the first half of this year to nearly 63 billion, Tether supply had a pause until early August. After adding 8 billion in the next month, Tether supply growth has been resting yet again since early last month, only to come back into action in October as traders and investors try to chase the bulls.

USDT’s dominance, however, has been on a decline ever since June last year when it was just above 86%. In the last 17 months, Tether’s stablecoin dominance has lost 30% of its share to now sit at 56.8%. Much of this has been lost to Circle’s USDC, whose market share went from 8% to 25.7%.

Amidst this growth, short-seller Hindenburg Research has launched a $1 million “bounty” program for information on the stablecoin company.

“We feel strongly that Tether should fully and thoroughly disclose its holdings to the public.”

“In the absence of that disclosure, we are offering a $1m bounty to anyone who can provide us exclusive detail on Tether’s supposed reserves.”

Nathan Anderson Hindenburg Founder

Hindenburg also said that it did not hold any long or short positions on Tether, Bitcoin, or any other cryptocurrency.

“This stunt from Hindenburg Research is a pathetic bid for attention,” Tether responded in a statement.

“Tether abhors and denounces their actions and transparent motives.”

Days before Hindenburg’s announcement, the US commodities regulator charged Tether with a fine of $41 million over falsely representing that USDT was fully backed by fiat currency. Tether did not admit or deny the wrongdoing.

Recently, crypto lender Celsius Network also said that Tether issues new stablecoins in exchange for collateral in the form of crypto, such as bitcoin, as part of its lending program.

“If you give them enough collateral, liquid collateral, Bitcoin, Ethereum and so on . . . they will mint tether against it,” said CEO Alex Mashinsky. “New USDT is issued for such loans,” and later destroyed when the loan is paid “so it does not permanently increase USDT in circulation.”

Earlier this month, Bloomberg reported that Celsius had borrowed $1 billion worth of USDT from Tether.

Mashinsky, meanwhile, further clarified that the loans of USDT are typically at least 30% overcollateralized.

“We have a select, small group of customers that borrow USDTs in exchange for posting security. These loans are secured by collateral in Tether’s possession of well in excess of 100% of the loan proceeds and earn monthly interest,” Tether told FT, adding:

“This practice is common to other stablecoin issuers. This lending is undertaken narrowly, efficiently, securely, and profitably.”

AnTy

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.



Source link

ShareTweetShareShare
Previous Post

Blockstream raises $16M for its Bitcoin mining STO in a matter of hours

Next Post

Blockchain RPG Game Mech Master Set for Private Sale as IDO Approaches

Related Posts

SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests

SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests

by J_News
March 18, 2023
0

Not all collections of non-fungible tokens, however, were affected in the same way. Projects from NFT issuer Yuga Labs, including...

Top 10,000 Bitcoin investors control one-third of the supply

Top 10,000 Bitcoin investors control one-third of the supply

by J_News
March 18, 2023
0

Key Takeaways Bitcoin is a decentralised asset, yet large amounts are controlled by a select few The top 114 addresses...

What are distributed systems, and how do they work?

What are distributed systems, and how do they work?

by J_News
March 18, 2023
0

For distributed systems to function, a task must be divided into smaller subtasks and spread over several nodes or computers...

Insane Bet by Balaji Srinivasan

Insane Bet by Balaji Srinivasan

by J_News
March 18, 2023
0

Vladislav Sopov Ex-Coinbase CTO and prominent angel investor Balaji Srinivasan betting (really) big on orange coin in short term Contents...

The Brave Browser Introduces a Revolutionary Way to Sell Crypto | by Crypto Beat | The Capital Platform | Mar, 2023

The Brave Browser Introduces a Revolutionary Way to Sell Crypto | by Crypto Beat | The Capital Platform | Mar, 2023

by J_News
March 18, 2023
0

The Brave browser’s new feature allows users to buy and sell crypto for fiat — including U.S. dollars, euros, and...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

The 7 Best New ICOs To Buy in 2023

Crypto Narratives to look out for in 2023 | by Blockchain Jew | The Capital Platform | Feb, 2023

New York Attorney General sues CoinEx over failure to register

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT