USDT total volume has exceeded $6.2B for the first time in its history, according to data published by Tether, its issuing company.
This figure includes coins that have been issued by Tether but have not yet been distributed to investors. They are issued according to the expected demand. For this reason, the total market cap of the stablecoin according to CoinMarketCap is $4.6B.
Although most coins are issued on Ethereum's blockchain, the asset is also available on TRON, EOS, Liquid and Omni.
Tether has not yet made any statement. However, crypto analyst Alistair Milne has said:
"Tether USDt just passed $6billion and nearly no-one noticed."
USDT has been criticized by industry participants because they believe it is not really backed by US dollars. However, under the current situation it is proving to be an asset that can be considered as a safe haven by investors.
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