Tether’s supply has increased by another circa half a billion since September, reaching now nearly $4.7 billion across three blockchains and 40 million tokenized euros plus $216,000 worth of Yuan tokens.
The ethereum blockchain now has most of the USDT tokens at $2.2 billion with $28 million awaiting distribution.
That’s followed by the bitcoin based Omni at $1.8 billion and, quite interestingly, it has already reached one billion on Tron.Tether stats, Dec 2019
Last time we looked in September just $100 million was on Tron, so most of the increase comes from there with eth back then at $2 billion, while Omni has fallen from $2.5 billion to now $1.8 billion.
That considerable fall in the usage of the bitcoin based blockchain is partly because much of it has been transferred to the cheaper eth or tron blockchain.
An additional circa $500 million however has been added, with total assets in September at $4.2 billion while now they stand at $4.7 billion.Tether on Coinmarketcap, Dec 2019
Curiously Coinmarketcap tells a different story, with Tether’s market cap there appearing stable, but for some reason the chart only goes up to last month.
Meaning this half a billion may have been added in the past few days, with about $300 million of it awaiting distribution.
Some $200 million was sent to Binance just today, with Binance sending $200 million to the Tether treasury. So this could be just a chain swap, but that might itself indicate that fiat which wasn’t put to use might now be put to use.
These branching all over different chains and all these chain-swaps might lead to some obfuscation perhaps because a tether printing started becoming an indicator of sorts.
Now however they’re just one tokenized dollar among many, with the Coinbase and Circle managed USDC rising as a prominent alternative.
USDC’s market cap has now reached half a billion, up $100 million this year with it launching in ...