Exchange volume for Tether sees all-time high
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Tether (USDT), the controversial stablecoin issued by Tether Limited, has experienced its highest exchange volume since first being issued in 2015. According to data from CoinMetrics.io, on December 20, 2018, USDT had over $6.9B in exchange volume. The increase in exchange volume may hint at a return in trader confidence for Tether. On Tuesday, Bloomberg published a report suggesting that Tether Limited has the necessary USD collateral to back up its stablecoin. In November, Tether Limited reopened account verification and direct fiat redemption features for its traders.
AUTHOR
Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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