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1850 new USDT addresses are created … every hour


1850 new USDT addresses are created … every hour

The Tether (USDT) has enjoyed increasing popularity for many weeks. The creation of new USDT addresses relogically flutes this progression, even if doubts persist on the funds supposed to back up the stablecoin.

Massive creation of new USDT addresses

We have noticed for several months: the stablecoin sector is booming and it’s the Tether leading the charge. Proof of this considerable advance, the creation of new USDT addresses, which was singled out by the analyst firm Glassnode :

“Tether continues to be widely adopted on Ethereum. Currently, approximately 1,850 new addresses with USDT are registered on the blockchain every hour. This is a new record, which corresponds to a multiplication [de cet indicateur] by 10 since the end of January. “

The market cap of Tether now exceeds $ 9 billion, a level never reached by altcoin. He thus manages to nibble a place on the podium of the largest cryptocurrencies by market cap, causing the XRP to drop to 4th place.

👉 Also discover: $ 1 billion Tether (USDT) is now stored on Binance

Is Tether still backed by the 1: 1 ratio?

While some are delighted with this incredible breakthrough in stablecoin, others are wondering about the funds behind Tether. As a reminder, stablecoin had already been entangled in controversy over the past year. In May 2019, he was forced to admit that his assets were not more backed than 74% by the fiat currency on which it is based: the US dollar (USD).

👉 To read about this case: BitFinex reimburses $ 100 million of $ 700 million owed to Tether

Tether has been issuing stablecoins at a very high rate for many weeks now. This frenzy therefore brings its share of questions: Can Tether make sure to have a dollar for each USDT produced? For now, doubts prevail, but there is little chance that it will slow down altcoin, which seems to have started on a streak never seen in the world of cryptos.

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About the Author : Marine Debelloir

twitter-soothsayerdatatwitter-soothsayerdataMarine Debelloir website

Intrigued by Bitcoin for several years, I fell in love with cryptocurrencies and the innovative technologies that result from them. I love finding the crispest info to share with you and help democratize this exciting world. But I don’t stop there! I also like to analyze projects related to cryptos and blockchains, which fascinate me just as much.
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