The largest stablecoin after market capitalization Tether starts in the Avalanche Network - Altcoins

Tether, the largest stable coin after market capitalization, has announced the introduction of Tethern on the Avalanche blockchain protocol. The StableCoin-Tther has launched a variety of blockchain networks and today there are more than 74.8 billion tether in circulation.

tether starts at avalanche

On Wednesday, Tether Operations Limited, the company that the StableCoin-Asset-Tether ( usdt ) has the start of. announced usdt on uwine (avax). The Bitfinex crypto exchange has also announced that it will support Avalanche Native Usdt token on the exchange.

avalanche (AVAX) is a smart-contract platform that is both compatible and a competitor of the blockchain protocol ethereum ( ETH ). "The introduction of Tether's token to Avalanche aims to support the long-term growth and sustainability of the Avalanche network and at the same time to promote the use of stable coins in the entire defi ecosystem," said the company on Wednesday.

” usdt on avalanche is an essential component for defi user, explained Emin Gün Sirer, director of the avalanche Foundation, in a statement. "Tether has developed into a well -accepted, proven stable coin with extensive support throughout the stock exchanges. It gets even more powerful with avalanche as a foundation," added the director of the Avalanche Foundation.

In the last 30 days, the value of the native asset in the Avalanche chain (AVAX) has increased by 59.9 %, and since the beginning of the year AVAX has increased by 2,554 %. Statistics of The defi dashboard from defillama.com Show Avalanche today has a total value of $ 10.45 billion, which is blocked in defi protocols.

tethers Reserve transparency page states that on November 10, 2021 about 74,863.439.905 Tether ( USDT ). "We look forward to the start usdt offers its growing and lively community access to the best and most trustworthy Stable coins in the digital token area, ”remarked Paolo Ardoinino, CTO at Tether, during the announcement.

tether is already in blockchain networks such as Omni Layer, Ethereum, Algorand, Bitcoin Cash, Eos Liquid, Solana and Tron.

"For those who believe in the development of Layer-1 Blockchain platforms, Avalanche is a further developed project that is compatible with Ethereum Virtual Machine and could be an essential driver for developers who want to port decentralized applications from Ethereum," added Ardoinino.

The second largest stable coin after market capitalization, USD Coin (USDC) also plans to be published in a variety of different blockchain networks. USDC has a market rating of around $ 34.6 billion and today there are $ 145 billion in stable coins.

Both linen ( usdt ) and USD coin (USDC) dominate the market in terms of market capitalization. Today, the holding ropes in circulation make 51 % of 145 billion US dollar StableCoinwirtschaft .

What do you think of the stablecoin tether ( usdt ) in the avalanche network? Let us know your opinion on this topic in the comments below.

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