Binance CEO Discloses Why Exchange Keeps 70 Percent of USDT on Tron

By stvleong | Steven Leong | 27 May 2020


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In a tweet, Binance 's CEO Changpeng Zhao says the largest trade volume exchange doesn't discriminate between different versions of stablecoin Tether (USDT).

The fact that Binance holds 70 per cent of the Tron-based USDT's entire supply is attributed entirely to the fact that the trading platform has the largest number of users.

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Tether continues to abandon its home

Earlier this month, USDT based in Tron became the flagship's third-largest version of stablecoin, leaving behind the Omni Layer. The amount of USDT tokens issued on the Tron network exceeded 2.2 Bln as of May 22. In November 2017 Tether began switching from his original chain to Ethereum to ensure faster transactions. ERC20 USDT has since become a dominant force in the Tether world, accounting for over 63 percent of its total supply, which is moving closer to hitting the 9 bln mark. In December, the stablecoin funded a new version of Omni that could ensure faster transaction indexing.

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stvleong
stvleong

I'm a Digital Marketing Lead | Crypto Trader | Affiliate Marketer and love to write posts related to crypto and anything that is interesting.


Steven Leong
Steven Leong

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