Tether, the issuer of the popular stablecoin pegged to the US dollar USDT , plans to transfer about 1 billion USDT tokens from the TRON blockchain to Ethereum's.
The issuer has reported through its official Twitter account that the transfer, which involves 7% of the total supply of the stablecoin, will take place today with the help of a crypto exchange whose name has not been disclosed.
It should be noted the transfer of tokens from one blockchain to another is not a decision usually taken by issuers or exchanges. This decision is made at the request of the users.
This would be the second massive transfer of USDT from the TRON blockchain to Ethereum's, as Tether moved another 1B USDT last month.
While Tether wants to reduce the load on the Ethereum network by transferring the tokens to other blockchains such as Solana or OMG Network, it looks like users prefer the network of the second largest crypto in the market, which is the reason why the issuer has decided to move the tokens.
Tether is currently compatible with 8 blockchains: Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network, Solana, and TRON.
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