In this article: Ethereum is the most flexible version of USDT, despite the influx of funds to other networks.
ERC-20USDT is most useful to Binance due to its widespread adoption.
Tether remains Ethereum's main source of fees and gas burner.
#Ethereum dominates the stablecoin market despite the hype surrounding token mining on other chains. This #blockchain accounts for 52.59% of stable coin supply and is the most actively used blockchain based on smart contract data.
the Ethereum blockchain remains important for the supply and circulation of stable coins. Despite the hype surrounding the new TRON and Solana miners, Ethereum's supply is still not fungible. The blockchain accounts for 52.59% of the total supply of stable coins, including #USDT , USDC, and many algorithmic stable coins.
Ethereum's dominance comes at a time when the total supply of stable coins is at its highest level ever. A total of 1.747 billion yen has been recorded on stable coins, most of which is concentrated in USDT and USDC, as well as DAI, which is currently being exchanged for U. S. dollars. USDT alone will hold over 129 BBS, which will be accumulated in the final days of daily active inflows and new mining.
To emphasize the importance of the USDT version of Ethereum, Tether recently converted ER2B into tokens, and to increase exchange reserves for the ERC-20 version, the increased use of stable coins on the less active Ethereum network is due to the peak of current CEX activity, particularly the concentration of liquidity and volume in Binance. USDT sales in the ERC-20 version account for 114% of daily volume, peaking on the busiest trading day.
USDT is actively used in Ethereum, and the spike in activity has been observed for 11 months.
additionally, Ethereum owns over 270 billion USDC, of which over 240 million are in custody. USDC remains an important addition to USDT liquidity due to its more transparent token reserves.
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