The value of USDT issued on AVAX has surpassed $351 million
The total amount of Tether (USDT) released on the Avalanche network has surpassed the $351 million mark.
This accomplishment was emphasized by Paolo Ardoino, Chief Technology Officer of Bitfinex and Tether, who said that the USDT on Avalanche has ‘been rising rather fast in the previous few days.
Tether’s market value has increased to $81.346 billion, placing it third on Coinmarketcap after Bitcoin ($842.685 billion) and Ethereum ($375.434 billion). With a market value of $68.449 billion, Binance Coin (BNB) is ranked fourth.
Additionally, Tether is the most valuable stablecoin, having a market value of $51.936 billion, followed by USD Coin at $51.936 billion and Binance USD at $17.585 billion. It’s worth noting that Tether’s market valuation is 1.56x that of USDC and 4.625x that of Binance USD.
It is for this reason that Tether’s CTO, Paolo Ardoino, said that USDT is ‘the people’s choice’. As he stated: A few months ago, I had a swarm of journalists wondering whether USDT was dead due to a little slowdown in growth. USDT is the currency of choice for the public.