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Coin Metrics Analyst Notes A Rise In Small Addresses Holding Stablecoins, Says It May Be A Sign That Greater Adoption Is On The Horizon
Summary: Senior research analyst at Coin Metrics Nate Maddrey noted that a majority of stablecoins like Tether are held by whale addresses in a recent interview with On The Brink. In the case of Tether, over 4 billion Tether is held on whale addresses with at least a million worth of Tether. This means that most ...
Senior research analyst at Coin Metrics Nate Maddrey noted that a majority of stablecoins like Tether are held by whale addresses in a recent interview with On The Brink.
In the case of Tether, over 4 billion Tether is held on whale addresses with at least a million worth of Tether. This means that most of Tether's supply is held by whale addresses. After Bitcoin's price plummet in March both small addresses holding less than 1,000 Tether and whale addresses began buying up the stablecoin.
Maddrey believes the growing number of small addresses holding Tether could mean that the general population is warming up to the idea of using stablecoins as a payment method.
By Emily Mason
Tags: CoinMetrics,Stablecoins,Tether
Link: Coin Metrics Analyst Notes A Rise In Small Addresses Holding Stablecoins, Says It May Be A Sign That Greater Adoption Is On The Horizon [Copy]
