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Moreover, Liquid has plans to make Liquid-based USDT available on several other exchanges in the future.
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The main reason for it is the stability of USDT and its parity with the USD.
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Binance was the first exchange to move to the ETH-based USDT and offer withdrawals only in the new coin.
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All of this considered, USDT brokers have created a lucrative niche in 2019, specifically, brokers who provide fiat liquidity options.
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In the next tweet, Ardoino pointed out to one of such transactions in whale alerts that involved over 100 million USDT.
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But now, many altcoins have acquired their own USDT markets, boosting the need for more stablecoins to flow through the exchanges.
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The account subsequently reported that Tether Treasury minted 5 billion USDT tokens on the Tron blockchain, after which it burned them.
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As per data from CoinMarketCap, USDT activity reached an all-time high this month with global market capitalization surpassing $4 billion.
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The issuer of the popular stablecoin has sent $300 million worth of USDT to the world's largest exchange by volume.
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On September 16, the crypto community found out that Tether had burned about $400 million worth of USDT.
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While Bitfinex insists all new "USDT" are backed by real dollar deposits, new tether issuances have coincided with dips in the price of bitcoin.
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The only altcoin that has seen any upward price movement is Tether (USDT) which is up by a minor 0.09%.
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The amount of burnt coins is considerable since the total supply of USDT is 4.1 billion at the moment, according to Coinmarketcap data.
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BNB will have the highest annualized interest rate of 15% while the rates for USDT and ETC amount to 10% and 7%, respectively.
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Coin Metrics, a Massachusetts-based crypto market research company states that as little as 318 wallet addresses make up for $1 million worth of Tether (USDT).