RATE Group | Tether (USDT) Dominance Persists Amidst Mainstream Adoption
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Tether (USDT) Dominance Persists Amidst Mainstream Adoption

06 Jan Tether (USDT) Dominance Persists Amidst Mainstream Adoption

Posted at 19:24h in Cryptocurrency News by

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Tether

Tether (USDT) popularity in the cryptocurrency space is unmatched. Immediate data indicates it is the most widely used stablecoin by virtue of trading volume. In November, for instance, USDT accounted for as much as 79% of Bitcoin trading between fiat or stablecoins. Likewise, a total of 9.69 million Bitcoins were exchanged in favor of the Tether stablecoin.

Popularity

The popularity stems from the fact that Tether is one of the most stable cryptocurrencies, given that it is pegged to the US dollar. USDT popularity and trading volume are expected to continue rising as cryptocurrency mainstream adoption continues to gain traction. Likewise, the stablecoin looks set to benefit from increased usage in derivatives such as crypto exchanges like Okex, which has already unveiled USDT futures.

The stability aspect brought about by stablecoins should continue to benefit the broader cryptocurrency market. Gone are the days when people shunned the market on fear of the high levels of…

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