The trading volume of the digital stablecoin Tether USDT exceeds $1 trillion for the first time
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Answer The trading volume of the digital stablecoin Tether USDT exceeds $1 trillion for the first time
The trading volume of the digital stablecoin (USDT) has crossed the $1 trillion mark year on year for the first time, according to data it compiled.”Search Block“.
As of April 30, the trading volume of the digital stablecoin (USDT) has reached the level of $1.01 trillion, which represents a market share of 64% of the total stablecoin trading volume for 2021 so far (the total volume is around $1.6 trillion).
On-chain transaction volume is any transfer of value within a blockchain network, such as buying, selling (trading) and sending (remitting).
Additionally, it is “modified” by the Coin Metrics platform, in order to filter out duplicates and sort trades as much as possible.
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Paolo Arduino, CTO of Tether, said:
Crossing the $1 trillion mark in volume on the chain is another milestone in the rise of Tether.
The cryptocurrency USDT is followed by the stablecoin USDC with a market share of around 20% at $312 billion, and Dai with an 8% market share at $114 billion, as of April 30.
The on-chain data certainly does not include central trading platform volumes for USDT pairs because this data is off-chain.
This USDT trading volume is likely to be higher given that USDT is one of the preferred pairs for cryptocurrency trading by many investors.
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