Over $200B Were Transferred Via Tether in 2019
Main page News, Tether, Stablecoins

According to a study conducted by The Block, 212 billion dollars were transferred last year via Tether (USDT).

The research has come to the conclusion that the most significant quarterly increase occurred between the first quarter of 2019 and the second quarter, when the value of transfers made via the most popular stablecoin in the market grew by 220%, from $17.4B to $55.7B.

USDT, which currently dominates the stablecoin market with an 85% market share, is hosted on various platforms such as Omni, Ethereum and TRON. Omni's dominance has declined over the past quarters and has been overtaken by Ethereum and TRON.

Omni's domain has dropped by 14%, while Ethereum and TRON have grown by 151% and 118%, respectively.

Tether has been involved in a great controversy over the last years as while its creators claim it is backed by the US dollar with a rate of 1:1, many people think that this is not true.

Stablecoins have gained great popularity recently because they have become a safe haven for investors in times of high volatility, as their price remains stable no matter what happens in the market as they are pegged to an underlying asset, which in Tether's case is the US dollar.

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