Copy-paste | Only 104 addresses control 70% of Tether tokens

The fundamentals of the Tether network leave much to be desired, since the lion's share of tokensconcentrated on 104 wallets in total. At the same time, the daily trading volumes of this stablecoin continue to outperform bitcoin.

Recently, Tether (USDT) looks softspeaking very controversial. But this does not prevent the token from continuing to rise. In fact, Tether is now the most popular cryptocurrency on the market and even boasts higher trading volumes compared to bitcoin.

However, the Tether network metrics are causing some concern. As IntoTheBlock recently found out, in this context, we can note both good and bad news:

104 addresses control 70% of the tokens in circulation. This means that 104 wallets hold $2.8 billion worth of USTD. Given the mysterious nature of the token, this volume is especially alarming.

The number of large transactions with Tether is steadily growing. Over the past seven days, the cumulative volume of transactions over $100,000 has exceeded $2.4 billion.

The average duration of USDT storage in a wallet is 17.8 days. This is not surprising since USDT is not a suitable asset for accumulation and storage.

What does all this tell us about USDT? Network metrics show that USDT dominates the market. The total volume of the largest transactions exceeds the performance of Bitcoin or Ethereum. However, the concentration of coins in a small number of wallets raises questions.

The fundamental reason for concern is that Tether is most likely not actually secured by the dollar at a 1: 1 ratio, and this is a serious warning signal.

Will this concentration of Tether tokens bringa small number of addresses damage the entire market - time will tell. If this house of cards is destined to crumble, the consequences of such a potential scenario should not be underestimated.

Do you consider Tether stable given the current token distribution? Should you be worried about this? Share your opinion in the comments.

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