HomeCoinsEthereum (ETH)Tether is launching on the Avalanche blockchain

Tether is launching on the Avalanche blockchain

- Advertisement -


Stablecoin issuer Tether is set to launch its USDT token on Avalanche, making it the ninth blockchain network it operates on.

USDT’s launch on the Avalanche network is expected in mid-June, Tether CTO Paolo Ardoino told The Block. Once launched, the stablecoin would work on nine blockchains: Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol, Ethereum, EOS, Liquid Network, Omni, Tron, and Solana.

Ethereum’s high gas fees have made USDT more popular on other chains, such as Tron. As The Block reported recently, USDT’s supply on Tron surpassed that of Ethereum. It is still the case as of writing. USDT’s supply on Tron stands at $31 billion, while on Ethereum, it is at around $27 billion, according to The Block’s Data Dashboard.

Ardoino told The Block that if Ethereum’s gas fees remain high on average, this trend may continue.

“Avalanche is surging in popularity,” Ardoino told The Block. “It has support for Ethereum Virtual Machine (EVM), allowing decentralized finance (DeFi) projects to migrate easily to it to enjoy lower fees, while making USDT deployment easy since we already have a battle-tested EVM compatible setup.”

When asked if Tether is looking to support more blockchain in the near future, Ardoino said there are no other blockchains in the pipeline for the time being.

Related Reading



Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,495FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 42,904.00
ethereum
Ethereum (ETH) $ 2,950.84
tether
Tether (USDT) $ 1.01
bitcoin-cash
Bitcoin Cash (BCH) $ 517.31
litecoin
Litecoin (LTC) $ 153.22
eos
EOS (EOS) $ 4.05
okb
OKB (OKB) $ 12.86
tezos
Tezos (XTZ) $ 7.21
leo-token
LEO Token (LEO) $ 2.92
cardano
Cardano (ADA) $ 2.45
monero
Monero (XMR) $ 239.81
stellar
Stellar (XLM) $ 0.281091
chainlink
Chainlink (LINK) $ 23.08
huobi-token
Huobi Token (HT) $ 9.28
tron
TRON (TRX) $ 0.091992
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 166.93
neo
NEO (NEO) $ 39.73
iota
IOTA (MIOTA) $ 1.25
nem
NEM (XEM) $ 0.149674
zcash
Zcash (ZEC) $ 111.25
maker
Maker (MKR) $ 2,291.99
paxos-standard
Pax Dollar (USDP) $ 1.01
ethereum-classic
Ethereum Classic (ETC) $ 47.79
vechain
VeChain (VET) $ 0.092617
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 52.20
kucoin-shares
KuCoin Token (KCS) $ 10.73
waves
Waves (WAVES) $ 24.55