The issuer of stablecoin USDT Tether has increased its token supply by $ 2 billion over the past seven days. The total number of USDT coins in circulation reached 24.4 billion.
As follows from the data on the Tether website, $ 14.34 billion was issued on the Ethereum blockchain, $ 9 billion on Tron, and the rest on Omni, EOS, Algorand, the Liquid sidechain and Bitcoin Cash’s Simple Ledger Protocol.
Tether CTO Paolo Ardoino says new large investors are actively using USDT to trade in the OTC market, and this is contributing to an increase in the number of stablecoin tokens in circulation:
“Tether’s clients include all major OTC platforms and high-frequency trading firms.”
Such platforms convert client funds into USDT and distribute buying pressure across all available sources of liquidity, increasing demand for stablecoin.
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