New report: 119 titles dominate the most available Tether coins
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Answer New report: 119 titles dominate the most available Tether coins
New stats reveal that 119 addresses control most of the supply of Tether, meaning it completely lacks the concept of decentralization.
Tether “USDT” is one of the controversial cryptocurrencies that are still under the suspicion of many in the crypto community.
Last month, two researchers from US universities, John M. Griffin and Amin Shams, accused Tether and the trading platform Bitfinex of manipulating the price of Bitcoin and causing it to rise to record levels in late 2017.
Although Tether defended itself by dismissing the allegations, the researchers questioned and ordered them to understand crypto trading first.
Once again, Tether and Bitfinex stole the spotlight last month after they were… summon them From judicial committees, accusing them of being two sides of the same coin and that the management of the two companies is run by the same people.
Read:Binance Announces XRP Rewards for Users…Details Here
Despite these setbacks, USDT continues to dominate the cryptocurrency stablecoin market.
Earlier this month, figures showed that tether holds 97% of the stablecoin market share.
Analysis of tether activity sheds light on the supply and supply of the coin.
A new tweet by the blockchain company IntoTheBlocks indicated that the company shared three amazing facts about Tether activity.
Or not: It was reported that about 64% of the “Tether” supply in circulation is controlled by 119 addresses.
secondly: The deal volume exceeded $100,000 in a week and the deal volume reached $3.52 billion.
Third and finally: The report claimed that USDT coins are held in accounts on average with a time period of about 20 days.
Let’s talk about #Rope Here are some of the basics of the series:
– There are 119 titles that control 64% of the circulating supply
– In the last 7 days, the total volume of large transactions (greater than $100K) reached $3.52 billion
Average Token Held: 21.2 days
Read:After the price of Ethereum fell below the $1600 level… Ethereum positions were liquidated by more than $230 million in one day
– intotheblock (intotheblock) December 12, 2019
Who Owns More Tethers?
Digging into the recently revealed numbers, each address controls about $20 million, suggesting a somewhat suggestive approach to supply control, a concept that Tether was championing it wouldn’t allow in its early days.
Read:Terra is officially suspended and major crypto exchanges are removing it from circulation…Details here
In addition, another issue that became clear is who owns the most tether coins?
Despite being embroiled in expensive and contentious lawsuits, the fact remains that Tether is clearly the most preferred currency in the cryptocurrency market.
As the trading volume of “Tether” Exceed Bitcoin Trading Volume The daily trading volume of Tether is estimated at more than $29 billion.
Read also:
Why is Tether USDT always recording high trading volume?
Tether Mafia: 318 addresses control 80% of the total number of Tether coins
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