According to Odaily, the on-chain supply of Tether on the Celo blockchain is nearing the $100 million mark. This information was disclosed by the CEO of cLabs, Marek, and later shared by Tether's CEO, Paolo Ardoino. The data was originally sourced from Token Terminal.
Tether, a stablecoin pegged to the US dollar, has seen a significant increase in its supply on the Celo blockchain. The near $100 million figure indicates a growing adoption of Tether within the Celo ecosystem. This development is significant as it shows the increasing use of stablecoins on various blockchain platforms.
The CEOs of both Tether and cLabs have not provided further details on this development. However, the near $100 million on-chain Tether supply on Celo is a clear indication of the growing interest and trust in stablecoins. As the crypto market continues to evolve, the role of stablecoins like Tether is becoming increasingly important.
