Paolo Ardoino: “The growth of Tether's capitalization does not mean an influx of money into cryptocurrencies”

According to the technical director of Tether and Bitfinex, Paolo Ardoino, there has been a noticeable increase in Tether’s capitalization overThe last three months have not yet spoken about the influx of money into the cryptocurrency industry.

Ardoino said that the stablecoin USDTreally very popular. The strong growth in the token's capitalization is associated with the events of March 12-13, when Bitcoin per day fell by 50%, and the recent bitcoin halving.

The fact is that when the market was strongvolatility, many traders missed the opportunity to enter the market and buy bitcoin at a low price, since their funds were in fiat currency in bank accounts. After that, they realized that the funds should be stored on the blockchain, and the best option is USDT. And the growth of capitalization is connected precisely with this - just traders are preparing to enter the market at any time.

“I want to emphasize that Tether's growth in recentmonths, a capitalization growth of 4 or 5 billion does not yet indicate an influx of new money into cryptocurrencies,” Ardoino said during the On The Brink podcast.

Currently, Tether's stablecoin capitalization is $ 9.2 billion. It ranks third in the ranking in terms of capitalization, surpassing XRP by $ 300 million.

Interestingly, according to analytics firm CoinMetrics, a significant portion of Paxos and USDT stablecoin transactions on the Tron blockchain are linked to pyramid schemes.

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