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Tether Has Moved 1 Billion USDT From TRON to Ethereum Blockchain
Summary: According to blockchain tracker Whale Alert, 1 billion USDT has been minted at Tether Treasury at 13:23 UTC on August 20, meaning Tether has transferred 1 billion stablecoin to Ethereum. In an official twitter post, Tether confirmed hours before the move that it would coordinate with a third party to perform two chain swaps (from ...
According to blockchain tracker Whale Alert, 1 billion USDT has been minted at Tether Treasury at 13:23 UTC on August 20, meaning Tether has transferred 1 billion stablecoin to Ethereum.
In an official twitter post, Tether confirmed hours before the move that it would coordinate with a third party to perform two chain swaps (from TRON to ERC20 protocol). Tether further noted that the total supply won’t change.
The identity of the exchange, who is willing to swap part of its Tethers from TRC20 to ERC20, is undisclosed. However, crypto media The Block has learned that the third party is most likely to be Binance.
After swapping 8% of the stablecoin’s total supply, USDT’s supply on Ethereum has increased to 8.50 billion, while the supply on TRON decreased to 3.30 billion.
As Bitpush reported yesterday, Tether went live on the OMG Network to reduce transaction congestion on the Ethereum blockchain.
By Lily Yang
Tags: Ethereum,Tether,Tether (USDT),Tron
Link: Tether Has Moved 1 Billion USDT From TRON to Ethereum Blockchain [Copy]
