Topic: [2020-01-31] ERC-20 USDT exchange supply decreased by nearly 50% since September (Read 136 times)
January 31, 2020, 01:49:28 PM
I think that they are slowly migrating to the Tron network and they emit new TRC-20 USDT. Also PornHub accept TRC-20 USDT, so probably this is the result of Justin Sun's actions. Same like PolonDEX that work on Tron network and not on Ethereum.
January 31, 2020, 01:25:25 PM
One would expect the ERC-20 USDT version to be popular. That certainly has been the case in the past. Since the initial issuance in early 2018, the amount of USDT on Ethereum has increased gradually. At the peak in late September 2019, over 1.022 billion ERC-20 USDT is in exchange wallets. A remarkable amount, albeit it has never been reached since.
Why is this supply dwindling so rapidly, though?
https://fintoism.com/metrics/erc-20-usdt-exchange-supply-decreased-by-nearly-50-since-september-2019/
Why is this supply dwindling so rapidly, though?
https://fintoism.com/metrics/erc-20-usdt-exchange-supply-decreased-by-nearly-50-since-september-2019/
maybe it is because investors are not confident enough to invest in such market where it can not be predicted what will happen next. investors are holding ustds in their wallet and waiting to buy low.
January 31, 2020, 12:14:06 PM
I think USDT will be more meaningful when the condition of Bitcoin is deteriorating, because crypto users prefer to hold USDT. But when Bitcoin has started to increase, then this stable coin will be abandoned, and switch to Bitcoin. I think it's a risk of a stable coin. When crypto users switch to Bitcoin, that's when the trading volume will decline.
This is probably the reason if the USDT supply decrease tallies with the increase in price of Bitcoin and other cryptocurrencies.
Another possible reason is the availability of more useful and easy to use stablecoins. I guess USDT should develop more useful features to attract more users.
January 31, 2020, 11:27:34 AM
There are tron version of usdt and traditional one. I think that they are enough for users
January 31, 2020, 11:23:04 AM
One would expect the ERC-20 USDT version to be popular. That certainly has been the case in the past. Since the initial issuance in early 2018, the amount of USDT on Ethereum has increased gradually. At the peak in late September 2019, over 1.022 billion ERC-20 USDT is in exchange wallets. A remarkable amount, albeit it has never been reached since.
Why is this supply dwindling so rapidly, though?
https://fintoism.com/metrics/erc-20-usdt-exchange-supply-decreased-by-nearly-50-since-september-2019/
Maybe it has already used to pump the price of bitcoin. This is the only possible scenario when tether supply on exchange site gets decreased along with the increase of the bitcoin price. Why is this supply dwindling so rapidly, though?
https://fintoism.com/metrics/erc-20-usdt-exchange-supply-decreased-by-nearly-50-since-september-2019/
I shall remind you about this https://bitcoinist.com/tether-behind-bitcoins-4000-to-13800-bull-rally-analyst/
It's possible for tether to do that.
I just say about the possible scenario. People are also still converting their tether massively for bitcoin to follow the bullish trend.
https://bitcoinwarrior.net/2020/01/usdt-tether-dominance-on-ethereum-to-face-the-liquid-test/
January 31, 2020, 10:02:25 AM
I think USDT will be more meaningful when the condition of Bitcoin is deteriorating, because crypto users prefer to hold USDT. But when Bitcoin has started to increase, then this stable coin will be abandoned, and switch to Bitcoin. I think it's a risk of a stable coin. When crypto users switch to Bitcoin, that's when the trading volume will decline.
January 31, 2020, 06:40:17 AM
One would expect the ERC-20 USDT version to be popular. That certainly has been the case in the past. Since the initial issuance in early 2018, the amount of USDT on Ethereum has increased gradually. At the peak in late September 2019, over 1.022 billion ERC-20 USDT is in exchange wallets. A remarkable amount, albeit it has never been reached since.
Why is this supply dwindling so rapidly, though?
https://fintoism.com/metrics/erc-20-usdt-exchange-supply-decreased-by-nearly-50-since-september-2019/
Why is this supply dwindling so rapidly, though?
https://fintoism.com/metrics/erc-20-usdt-exchange-supply-decreased-by-nearly-50-since-september-2019/
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