CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$36,040.00
  • ethereum
    ETH$1,247.29
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Tether Prints Another 300M USDT: 3.5% of Total Supply Already on TRON

    Tether Prints Another 300M USDT: 3.5% of Total Supply Already on TRON

    Author: Felix Mollen

    Last Updated Dec 10, 2019 @ 13:38

    Since the announcement of the newly-found partnership between Justin Sun’s TRON network and the popular stable coin Tether (USDT), around 3.5 percent of USDT’s total supply is already residing on TRON’s network.

    3.5 Percent of All USDT Already on TRON

    Back at the beginning of March, TRON announced a partnership with Tether which is supposed to see the stable coin migrate its supply to TRON’s network.

    Less than a couple of short months later, it appears that 3.5 percent of the total USDT supply is already on TRON’s network.

    As seen in the picture above, the USDT in circulation on the TRON network is currently valued at a little bit less than $100 million, which represents 3.5 percent of USDT’s total supply.  

    Speaking on the matter was Justin Sun, TRON’s founder, who said:

    TRON now occupies 3.5% of total USDT supply, 100 million out of 2.8 billion. We will reach 200 million USDT very soon!

    It’s also worth noting, however, that the predominant amount of USDT continues to exist on the Bitcoin-based Omni Layer. A part of its circulation supply continues to reside as an ERC20-based token on the network of Ethereum.

    Tether Prints Another 300M USDT

    Meanwhile, Tether has printed yet another 300M USDT on the Omni layer, the transaction details for which can be seen here.

    While it’s anyone’s guess to tell whether or not this will impact the market, looking at the charts reveals an interesting pattern.

    Since bitcoin’s breakout at the beginning of April which saw the cryptocurrency gain about 25 percent in a matter of hours, the total market cap for Tether has also increased with about 25 percent which is roughly around $500 billion – from $2 billion to $2.5 billion.

    This could be a signal that the buying interest is following the price quickly and it could suggest that it is increasing as the price increases as well. This could, in theory, provide grounds for further momentum.

    The latest print of 300M USDT follows a fairly similar pattern. On April 23rd, Bitcoin saw another leg up, jumping from $5,390 to around $5,640 which is an increase of about 5 percent. Two days later, Tether’s total market cap jumped from around $2.7 billion to around $2.84 billion which is, not surprisingly, a little bit more than 5 percent up.

     

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    Read more on: Tether (USDT) Tron

    About The Author

    Felix Mollen View more posts by this author

    Felix got into Bitcoin back in 2014, but his interest quickly expanded to everything blockchain-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years before that, Felix transitioned to working on blockchain-centered projects and hasn't looked back ever since.

  • bitcoin
    BTC$36,040.00
  • ethereum
    ETH$1,247.29
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    binance
    Bitcoin Editorials
    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!