January 23, 2022

Tether transfers 1bn USDT from TRON to Ethereum

Tether transfers 1bn USDT from TRON to Ethereum

The stablecoin issuer Tether has moved 1 billion USDT from the TRON blockchain to the Ethereum blockchain.

Technical The director of Tether said "the move was in response to a request from the exchange to move its Tether holdings from TRC20 to ERC20." He did not specify which exchange sent this request.

Now offering USDT on the Ethereum blockchainincreased from 7.5 billion to 8.5 billion, and on the Tron blockchain decreased from 4.30 billion to 3.30 billion. The total USDT supply is over 13 billion.

Tether transfers 1bn USDT from TRON to Ethereum

It should be noted that such transfers are oftenare carried out when the community wants to trade on another blockchain. However, exchanges and issuers rarely make their own decisions, as they did in this case.

Tether also launched yesterday on the OMG Networkin order to reduce the load on Ethereum. Tether currently operates on seven blockchains - Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network and Tron.

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According to the materials www.theblockcrypto.com

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