The post New records for the stablecoin USDT (Tether) on the crypto network TON appeared on BitcoinEthereumNews.com.

Tether (USDT), the largest stablecoin, continues to record numbers: on one hand, its supply in circulation on the TON crypto network has exceeded 1 billion dollars and, on the other hand, its total market cap has surpassed 118 billion dollars. Tether and the record numbers of the stablecoin USDT on the crypto network TON  According to the data from Token Terminal, the version of Tether (USDT) operating on The Open Network (TON) has surpassed one billion dollars in circulating supply. Specifically, this increase highlights the continuous dominance of USDT among stablecoins pegged to the US dollar, as well as the growing popularity of the TON chain.  In fact, the Tether-TON collaboration started last April 2024, with the goal of introducing USDT natively on The Open Network. The plan included the issuance of 60 million USDT on TON in a first phase, so that the 900 million Telegram users could start using it.  At that moment, the Ton Foundation had activated strong economic incentives to encourage its users to use USDT on its own blockchain, namely TON. In practice, 11 million TON tokens had been allocated and distributed to all USDT holders on The Open Network.  In the span of five months, the supply of USDT on TON has increased to exceed one billion dollars today.  Not only that, while in April 2024, the native crypto of The Open Network, Toncoin (TON) was in the 11th place by market cap, today it has risen to the ninth place.  Tether: the stablecoin USDT surpasses $118 billion in market cap and captures 75% of the market  Tether (USDT) also increases its dominance in the stablecoin market, with the market cap surpassing 118 billion dollars.  It is an impressive growth considering that, just last September, the market cap of USDT was 83 billion dollars. …

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Filed under: News - @ September 18, 2024 7:27 am