Tether's Treasury has coined an incredible 300 million USDT.
Tether, the most valuable stable currency by market value, has become a household name in the rapidly changing crypto market.
The latest development is that Tether's treasure has coined an incredible 300 million USDT, as seen in Whale Alert, an advanced blockchain tracker and analytics firm.
At the time of this report, Tether was trading at $0.999746, with a daily trading volume of $33,341,910,985. The price of USDT has been stable for the past 24 hours. It has a current stock of 16 billion coins and a maximum supply of 10.2 billion coins.
To show how quickly the third most valuable encryption by market value has become relevant, data from Glassnode, an on-chain analytics provider, showed that Tether's transaction volume has increased by about 20% in the last 30 days to reach this new cumulative milestone.
What you should know
Tether was designed as a blockchain-based cryptocurrency whose circulating digital currencies are backed at the same value as traditional fiat currencies such as the US dollar, Japanese yen or euro. It is traded under the symbol USDT.
Nairametrics had previously outlined a report on the organic growth of Tether's market capitalization as one of the main reasons for the gain that Bitcoin (BTC) is currently having in the medium term. Interest in digital links to the dollar represents the need to manipulate and store value in the world reserve currency without an intermediary.