Stablecoin issuer USDT issued 2 billion coins in just a week.
The previous record was set inearly September last year, when USDT supply increased by 1 billion in eight days.
At the beginning of last year, only 4.8 billion USDT circulated in the market. Now, according to Messari, the stablecoin supply is over 24.6 billion.
The largest amount of USDT was issued on Ethereum - $14.34 billion, on Tron - $9 billion, the rest - on Omni, EOS, Algorand, the Liquid sidechain and Simple Ledger Protocol fromBitcoin Cash.
Paolo Ardoino, CTO of Bitfinex, believes that the growth of USDT capitalization is natural against the backdrop of the injection of institutional capital into the market, which uses OTC platforms.
In order to buy bitcoin, clients convert funds into USDT and distribute purchases among available sources of liquidity, increasing demand for stablecoin.
According to CoinGecko, the daily trading volume of the largest stablecoin was $150.8 billion, while the turnover ofbitcoin – $102.7 billion.
Paolo Ardoino noted that USDT is fully backed by fiat reserves and intends to strengthen compliance with KYC / AML requirements and improve the company's transparency in the coming year.
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