318 Wallets to Control 80% of USDT, - Coin Metrics

According to the research, a significant part of these funds is probably used by the exchanges, where USDT is actively used for transactions
08 August 2019   300

About 300 wallets control 80% of the Tether stablecoins, Bloomberg reports, citing a new study by Coin Metrics.

A significant part of these funds is probably placed on the wallets of cryptocurrency exchanges, where USDT is especially actively used for transactions. Major Tether holders also include brokers oriented to work with Chinese investors and high-frequency traders.

Tether Ownership Distribution
Tether Ownership Distribution

The concentration of Tether suggests that control of Tether is in the hands of a few central players who can swing Bitcoin prices, and have a vested interest in doing so. It also suggests that many exchange players have a vested interest in keeping the Tether game going.

John Griffin

Finance professor, University of Texas at Austin

According to Coin Metrics, Tether was used to conclude 40% and 80% of all transactions on the Binance and Huobi cryptocurrency exchanges, respectively. The company’s analysis included USDT-wallets based on the OMNI protocol and the Ethereum blockchain, the balance of which exceeded $ 1 million. 318 such wallets were counted.

On the other hand, according to the BitInforCharts.com portal, currently over 20,000 bitcoin addresses contain cryptocurrencies worth more than $ 1 million. This may be explained by the greater popularity of bitcoin as a means of accumulation, while stablecoins are often not withdrawn by users from exchanges. where they accumulate in large volumes.

Tether to Perform Large USDT Swap

Omni based USDT worth over $100 000 000 will be moved to ERC-20
06 August 2019   157

Paolo Ardoino, CTO at Bitfinex and Tether, announced the transfer of part of the USDT offer from Omni protocol to ERC-20.

Tether is working with an exchange to perform a swap from Omni to ERC20 of part of its USDt cold wallet.

Paolo Ardoino

CTO, Bitfinex and Tether

On the Tether website, you can see the amount of USDT on the basis of various blockchains.

USDT Transparency
USDT Transparency

So far, USDT stablecoins based on Omni prevail in circulation - 2.82 billion, while the supply of stablecoins of the ERC-20 standard has already reached 1.45 billion. 107 million USDT were issued on the Tron blockchain, 251 million on EOS, and while only 61,000 stablecoins "live" in the Liquid Network.