Tehter, known as the world’s largest stablecoin, has added a new one to its blockchains. Tether, which has agreed with AVAX, will be produced on the Avalanche network. Details are in our news.
New competitor to Ethereum: The step that will change the balance from AVAX
Tether is preparing to produce USDT token on Avalanche blockchain. With the launch of the Avalanche blockchain, Tether will begin operating on nine blockchains.
Tether CTO Paolo Ardoino said that USDT will begin operating on the Avalanche blockchain in mid-June.
See: Bitcoin news and breaking news
The blockchains Tether has been operating on so far are as follows: Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol, Ethereum, EOS, Liquid Network , Omni, Tron, and Solana.
Tether, which started trading on the Omni blockchain, later turned to networks like Ethereum due to high transaction fees. However, Etherum’s rising gas fees have made Tether more popular on the Tron blockchain.
USDT’s Tron supply is around $31 billion. This figure is $27 billion on the Ethereum blockchain.
Tether CTO stated that if Ethereum’s gas fees continue to increase, Ethereum supply will continue to decrease. He also said that Avalanche could accelerate the transition of DeFi projects. value of approximately $58 billion.
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