{"id":14166,"date":"2021-11-10T20:54:03","date_gmt":"2021-11-10T20:54:03","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/largest-stablecoin-by-market-cap-tether-launches-on-the-avalanche-network\/"},"modified":"2021-11-10T20:54:03","modified_gmt":"2021-11-10T20:54:03","slug":"largest-stablecoin-by-market-cap-tether-launches-on-the-avalanche-network","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/largest-stablecoin-by-market-cap-tether-launches-on-the-avalanche-network\/","title":{"rendered":"Largest Stablecoin by Market Cap Tether Launches on the Avalanche Network"},"content":{"rendered":"

The largest stablecoin by market capitalization, tether has announced the launch of tethers on the Avalanche blockchain protocol. The stablecoin tether has launched a myriad of blockchain networks and today there\u2019s more than 74.8 billion tethers in circulation today.<\/strong><\/p>\n

Tether Launches on Avalanche<\/h2>\n

On Wednesday, Tether Operations Limited, the firm that issues the stablecoin asset tether (USDT<\/a>) has announced the launch of USDT<\/a> on Avalanche (AVAX). The crypto exchange Bitfinex has also revealed it will support Avalanche-native USDT<\/a> tokens on the exchange.<\/p>\n

Avalanche (AVAX) is a smart contract platform that is both compatible and a competitor of the blockchain protocol Ethereum (ETH<\/a>). \u201cTether\u2019s token\u2019s launch on Avalanche will aim to support the long-term growth and sustainability of the Avalanche network while driving stablecoin usage across the defi ecosystem,\u201d the company explained on Wednesday.<\/p>\n

\u201cUSDT<\/a> on Avalanche is an essential building block for DeFi users,\u201d Emin G\u00fcn Sirer, the director of the Avalanche Foundation explained in a statement. \u201cTether has become a well-accepted, time-tested stablecoin with extensive support throughout exchanges. It will be even more powerful with Avalanche as its foundation,\u201d the Avalanche Foundation director added.<\/p>\n

Over the last 30 days, the native asset on the Avalanche chain (AVAX) has increased in value by 59.9%, and year-to-date, AVAX has swelled by 2,554% in value. Statistics from defillama.com\u2019s defi dashboard<\/a> show Avalanche has $10.45 billion total value locked in defi protocols today.<\/p>\n

Tether\u2019s reserve transparency page<\/a> notes that as of November 10, 2021, there\u2019s approximately 74,863,439,905 tether (USDT<\/a>) in existence. \u201cWe\u2019re excited to launch USDT<\/a> on Avalanche, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space,\u201d Paolo Ardoino, the CTO at Tether remarked during the announcement.<\/p>\n

Tether is already issued on blockchain networks such as Omni Layer, Ethereum, Algorand, Bitcoin Cash, EOS<\/a>, Liquid, Solana, and Tron.<\/p>\n

\u201cFor those who believe in the development of Layer-1 blockchain platforms Avalanche represents an evolved project that boasts Ethereum Virtual Machine compatibility and could be an essential driver for developers looking to port decentralized applications over from Ethereum,\u201d Ardoino added.<\/p>\n

The second-largest stablecoin by market capitalization, usd coin (USDC) also has plans to be issued on a myriad of different blockchain networks. USDC has a market valuation of around $34.6 billion and there\u2019s $145 billion in stablecoins today.<\/p>\n

Both tether (USDT<\/a>) and usd coin (USDC) dominate the market in terms of market capitalization. Today, the tethers in circulation represent 51% of the $145 billion stablecoin economy<\/a>.<\/p>\n

What do you think about the stablecoin tether (USDT<\/a>) launching on the Avalanche network? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nAltcoins, Algorand, Avalanche, Avalanche Foundation, Avalanche network, AVAX, bitcoin cash, Emin G\u00fcn Sirer, EOS, Ethereum, Liquid, Omni Layer, Paolo Ardoino, Solana, Stablecoin Tethers, Tether, Tether Limited, tron, usd coin, USDC, USDT, USDT AVAX<\/p>\n","protected":false},"excerpt":{"rendered":"

The largest stablecoin by market capitalization, tether has announced the launch of tethers on the Avalanche blockchain protocol. The stablecoin tether has launched a myriad of blockchain networks and today there\u2019s more than 74.8 billion tethers in circulation today. Tether Launches on Avalanche On Wednesday, Tether Operations Limited, the firm that issues the stablecoin asset…<\/p>\n","protected":false},"author":0,"featured_media":14167,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14166"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14166"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14167"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}