Stablecoin Tether Set to Eclipse Bitcoin’s Daily Transaction Value

Stablecoin Tether Set to Eclipse Bitcoin’s Daily Transaction Value
фото показано с : news.bitcoin.com

2020-7-23 11:30

The most dominant stablecoin in the cryptocurrency ecosystem has seen some competition during the last few years, but the token tether has remained king in the face of rivalry. Just recently, a “Q2’20 review” published by the digital currency data and analytics firm Messari shows that tether’s daily transaction value is set to eclipse bitcoin’s daily transaction value in the near future.

Ever since the first tokens were issued back in October 2014, the tether (USDT) stablecoin economy has been an enigma, to say the least. Moreover, since 2017 the market capitalization of tether has grown exceptionally large capturing roughly $10 billion in value as of July 22, 2020.

The tether economy has grown massively despite the competition over the last few years, as tokens like pax standard (PAX), trueusd (TUSD), dai (DAI), and usd coin (USDC) nip at the stablecoin’s heels.

Now a recently published “Q2’20 review” concerning the stablecoin economy written by Ryan Watkins notes that tether’s daily transaction value may soon supersede bitcoin’s daily transaction value.

At the time of publication only $100 million remains in between both crypto asset’s daily transaction value.

Data from Coin Metric’s charts also indicate that most of the value stems from USDT tokens created on the Ethereum blockchain. Stablecoins transactions have seen over a half of a trillion U.S. dollars settled during the first half of 2020.

The report written by Watkins highlights that stablecoins offer “24/7 uptime and relatively quick settlement” and they have seen “increased usage in defi” sector.

“While inter-exchange settlement remains the most dominant use case for stablecoins by far, more generally, stablecoins are simply a better means of storing and moving dollars around the world,” the researcher details.

Statistics also show that tether (USDT) has more trade volume than bitcoin (BTC) and this trend is a usual occurrence. Comparatively, data from into the intotheblock.com shows USDT whale concentration is 12.03%, while bitcoin’s whale concentration is only 1.39%.

Data from Cryptocompare shows that USDT captures 64.02% of BTC’s trading share. This is also the case for various digital assets as the largest market pair typically is tether.

Stats from exchanges that swap BTC worldwide indicate that tether is traded more often than fiat currencies.

Fiat currencies like the USD (11.20%), JPY (9.30%), EUR (4.46%), and KRW (3.79%) are BTC’s top fiat pairs on July 22. Those fiat assets do not stack up to USDT with their forces combined.

What do you think about tether surpassing bitcoin’s daily transaction value in the near future? Let us know in the comments section below.

The post Stablecoin Tether Set to Eclipse Bitcoin’s Daily Transaction Value appeared first on Bitcoin News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97601.92 (+0.05%)
Объем 24H $90.872b
Изменеия 24h: 4.33 %, 7d: 6.92 %
Cегодня L: $94006.77 - H: $97681.32
Капитализация $1929.732b Rank 1
Цена в час новости $ 9497.95 (927.61%)

bitcoin tether transaction stablecoin value daily eclipse

Источник: news.bitcoin.com

bitcoin tether → Результатов: 126


Tether issuance and Bitcoin price have no 'statistically significant relationship'

During the course of the past decade, Bitcoin has seen growing adoption. In recent years, the fact that one could access Bitcoin via stablecoins, most commonly Tether, has done a lot of good for the wThe post Tether issuance and Bitcoin price have no 'statistically significant relationship' appeared first on AMBCrypto.

2020-5-11 23:30


Tether начнет выпускать свой стейблкоин на блокчейне Bitcoin Cash

Эмитент стейблкоинов Tether официально приступает к выпуску своих токенов на блокчейне Bitcoin Cash, сообщает портал Bitcoin. com. Для этого Tether воспользуется протоколом эмиссии индивидуальных токенов Simple Ledger Protocol (SLP).

2020-3-20 12:25


Tether in court: Yep, we sort of, kind of, definitely used our reserves to buy Bitcoin

It appears that contrary to its marketing promises, Tether – a cryptocurrency pegged to the US dollar – used some of its dollar reserves to buy Bitcoin. The stablecoin issuer, which shares management and ownership with cryptocurrency exchange service Bitfinex, has admitted it used its reserves to invest in Bitcoin and other “assets,” according to court transcripts obtained by The Block.

2019-5-22 11:12


Technical Indicator Suggests Tether Trouble Has Put an End to Bitcoin Rally

This week, a scandal involving Bitfinex and Tether parent company iFinex being accused by the New York Attorney General’s office of misappropriating funds has shaken up the cryptocurrency market. Bitcoin and other cryptocurrencies have rallied in recent months, however, the latest negative news surrounding the leading stablecoin on the market has been enough to cut.

2019-4-30 03:01


Bitfinex and Tether Exodus Leads to 7th Most Confirmed Bitcoin Transactions in a Day

Yesterday’s news of Bitfinex being accused by the New York Attorney General’s office of potentially covering up the loss of $850 million using Tether reserves has caused Bitcoin and the crypto market to plummet and investors to panic, not only about the diminishing value of their holdings, but over the entire integrity of the crypto.

2019-4-27 03:01


Tether вновь обогнал Bitcoin Cash

Утром в среду, 6 февраля главная криптовалюта торгуется в незначительный минус. Курс bitcoin просел на 1,06% по информации CoinMarketCap (на 10:00 по МСК). Подешевели все цифровые валюты из топ-5, кроме стейблкоина Tether, который вновь обогнал Bitcoin Cash по капитализации и поднялся на 5 строчку.

2019-2-6 10:38


Bloomberg: Минюст США расследует связь Tether с прошлогодними манипуляциями с bitcoin

Министерство юстиции США инициировало расследование по делу о вероятном манипулировании курсом bitcoin в ходе прошлогоднего ралли криптовалюты. В рамках расследования ведомство намерено выяснить, причастны ли стейблкоин Tether и криптобиржа Bitfinex к неожиданному росту курса bitcoin в конце 2017 года.

2018-11-21 17:10


Джозеф Любин сомневается в причастности Tether к манипуляциям с ценой Bitcoin

Соучредитель Ethereum Джозеф Любин не согласен с обвинениями в манипуляции Tether ценой на Bitcoin в 2017 году. Сообщение Джозеф Любин сомневается в причастности Tether к манипуляциям с ценой Bitcoin появились сначала на Freedman.

2018-8-30 09:04


Фото:

Is Tether Still an Effective Way to Pump Bitcoin Prices?

Bitcoin, the most popular cryptocurrency by many measurements, isn’t half as controversial as Tether — the controversial coin that has polarized the entire crypto community.   Tether somehow has become the bad boy of crypto and has frequently been linked to market price manipulation, but its recent moves have failed to make an impact on NEO and EOS.

2018-8-28 18:01


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto firms launch the Global Dollar stablecoin to boost adoption

The Global Dollar is issued out of Singapore by Paxos and is “substantially compliant” with the MAS Tether’s USDT stablecoin accounts for more than 75% of the market Kraken’s co-founder said there is a “lack of competition” in the stablecoin market A group of cryptocurrency and financial technology companies have introduced a joint stablecoin, the […] The post Crypto firms launch the Global Dollar stablecoin to boost adoption appeared first on CoinJournal.

Six Months, $1 Billion: TON Network’s Explosive USDT Adoption Milestone

The partnership between The Open Network (TON) and Tether has reached new heights as the USDT stablecoin experienced a massive surge in just a few months since the start of their collaboration. A remarkable feat that saw a massive increase in the USDT on TON hitting over $1 billion in only six months, an indicator of the capability of the emerging dynamic duo.