According to crypto asset analyst firm Glassnode data, addresses holding 1,850 Tether (USDT) are recorded every hour in the Ethereum blockchain, and this number continues to increase rapidly since January.
Ethereum-based USDT, launched in November 2017, currently has a market value of around $ 5.7 billion. The figure in question is enough to overshadow the highest supply of Omni Layer’s USDT, which reached a peak of $ 3 billion in 2018.
Tether, which brings liquidity to crypto exchanges and comes to mind when it comes to stable coins, has achieved the biggest crypto success of this year. Investors, who suffered great losses from the great collapse on March 12, which was referred to as “Black Thursday” on the crypto date, chose Tether as the first choice to protect themselves.
For this reason, the circulating USDT supply started to increase rapidly and Tether, despite dealing with many cases, has reached the title of being the third largest crypto currency in terms of market value by exceeding the market volume of Ripple (XRP).