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   885

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This may be explained by the greater popularity of bitcoin as a means of accumulation, while stablecoins are often not withdrawn by users from exchanges.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 $300M Worth Chain Swap

300M USDt was moved from the Omni to the ERC-20 blockchain; now the share of stablecoins based on Ethereum exceeded the share of coins based on Omni
30 October 2019   444

Tether transferred 300 million USDT tokens from the Omni blockchain to the Ethereum standard ERC-20.

The tweet also says that the token migration was carried out with the participation of an unnamed third party. At the same time, the company assured that the aggregate supply of USDT will not increase as a result of the operation.

Almost together with the statement of the largest issuer of stablecoins, the Whale Alert Twitter account recorded the corresponding operations.

After that, the share of stablecoins based on Ethereum (44%) exceeded the share of coins based on Omni (39%):


To date, the proportion of TRC20 standard coins is 18%. Tether also released some “stable coins” based on EOS and in the Liquid sidechain.