Forex and Crypto News

Chinese traders are leaders among USDT buyers

13:40 05 June /2019

According to the research of Diar company, in 2019, Chinese traders made the largest number of transactions with the Tether stablecoin (USDT).

In the latest study, experts say that the Chinese traders provide up to 60% of the global turnover of this stablecoin.

In the first half of the year, the platforms processed transactions with Tether in the Chinese market for a total of about $10 billion. This is the highest figure in the world, for example, American users made transactions with this coin for up to $450 million.

More than 30% of operations with USDT currently conduct two cryptocurrency exchanges Binance and Bitfinex.

The Diar report also stresses that the study analyzed all transactions with Tether, including the so-called “cryptowhales” transactions. The scale of asset usage is growing among the large players and among small investors.

The coin is very popular not only in China but throughout the world while maintaining the status of the leading stablecoin. Recently, information was received that the USDT developers announced the launch of the stablecoin based on the EOS blockchain. Prior to this, the coin was produced on the Tron platform.

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