Tether is moving 1 billion more USDT coins from TRON to Ethereum blockchain

Tether is moving 1 billion more USDT coins from TRON to Ethereum blockchainTether is moving 1 billion more USDT coins from TRON to Ethereum blockchain

Stablecoin issuer Tether is set to move 1 billion more USDT coins, or around 7% of its total supply, from TRON to the Ethereum blockchain.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The swap will be performed in two tranches tomorrow, September 15. Tether said it would coordinate with a third party (an unnamed crypto exchange) for the swap.” data-reactid=”20″>The swap will be performed in two tranches tomorrow, September 15. Tether said it would coordinate with a third party (an unnamed crypto exchange) for the swap.

Stablecoin chain swaps are generally performed when users demand to trade on one blockchain instead of another. Issuers and exchanges usually don’t make such decisions themselves.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This would be the second massive swap of Tether from TRON to Ethereum — last month, the issuer moved 1 billion USDT coins.” data-reactid=”26″>This would be the second massive swap of Tether from TRON to Ethereum — last month, the issuer moved 1 billion USDT coins.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="While Tether is looking to reduce congestion on the Ethereum blockchain by supporting blockchains such as Solana and OMG Network, users seem to like trading USDT on Ethereum. Tether works on eight blockchains — Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network, Solana, and Tron — and Ethereum remains its largest value settler, as The Block reported recently.” data-reactid=”27″>While Tether is looking to reduce congestion on the Ethereum blockchain by supporting blockchains such as Solana and OMG Network, users seem to like trading USDT on Ethereum. Tether works on eight blockchains — Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network, Solana, and Tron — and Ethereum remains its largest value settler, as The Block reported recently.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="©&nbsp;2020&nbsp;The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.” data-reactid=”29″>© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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