Tether’s Daily Volume Reaches All-Time High at 38,150 USDT Transactions
Tether Limited has been the subject of controversy ever since they issued their stablecoin under the same name, otherwise known as USDT. On March 31st, according to an article by The Block, the stablecoin made history with its highest daily volume since it was originally issued in 2015. The data was collected from CoinMetrics.io.
Based on the collected data, there were 38,150 USDT transactions processed on March 31st. To show how the reserves are made up for the stablecoin, the company recently posted an update on the website that stated that every single coin is backed with “reserves.” These “reserves” comes from both traditional currency and “cash equivalents.” However, there are times when “other assets and receivables from loans made by Tether to third parties.”