Tether (USDT) Issued on Avalanche (AVAX) Hits $351 Million


Summary:

  • The amount of Tether (USDT) issued on Avalanche has hit $351 million
  • According to Tether’s CTO, USDT on Avalanche ‘has been growing quite aggressively’
  • He also adds that Tether is once again exhibiting growth and is ‘the people’s choice’
  • Tether (USDT) now has a total market cap of $81.322 Billion

The amount of Tether (USDT) issued on the Avalanche network has reached a new milestone of $351 million.

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This achievement was highlighted by the Chief Technolgy Officer at both Bitfinex and Tether, Paolo Ardoino, who pointed out that the USDT on Avalanche had ‘been growing quite aggressively in the last few days’.

A Breakdown of Tether on All Networks

A quick glance at Tether’s breakdown of USDT issued on the different networks, reveals the following data from which it can be observed that Avalanche is now ranked fifth in terms of tokens issued.

  1. USDT on Tron – $40.735 Billion
  2. USDT on Ethereum – $39.817 Billion
  3. USDT on Solana – $1.89 Billion
  4. USDT on Omni – $1.335 Billion
  5. USDT on Avalanche – $351 Million
  6. USDT on Algorand – $148.999 Million
  7. USDT on EOS – $85.251 Million
  8. USDT on Liquid – $36.561 Million
  9. USDT on Simple Ledger Protocol (SLP) – $5.98 Million
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Tether Continues to be the People’s Choice

Tether now has a total market capitalization of $81.346 Billion and is ranked third on Coinmarketcap after Bitcoin ($842.685 Billion) and Ethereum ($375.434 Billion). Binance Coin (BNB) comes in fourth with a market capitalization of $68.449 Billion.

In addition, Tether is also the top stablecoin with the highest market capitalization followed by USD Coin at $51.936 Billion and Binance USD at $17.585 Billion. To note is that Tether’s market cap is 1.56x times higher than USDC’s and 4.625x higher that of Binance USD.

It is with the latter fact that the CTO of Tether, Paolo Ardoino, pointed out that USDT is ‘the people’s choice’. He said:

Few months ago I had ton of journalists all over me asking if USDt was dead because the growth slowed down a bit for few weeks. USDt is people’s choice.

Tether (USDT) Issued on Avalanche (AVAX) Hits $351 Million 15
Tether’s marketcap over the years. Source, Coinmarketcap.com


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