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   301

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This may be explained by the greater popularity of bitcoin as a means of accumulation, while stablecoins are often not withdrawn by users from exchanges.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 Launch USDT in Blockstream's Liquid Network

Thanks to this, ecosystem participants will be able to make fast and secure payments using Confidential Transactions technology
30 July 2019   352

A leading supplier of Bitcoin and Blockchain solutions, the company Blockstream and Tether have launched USDT in the Liquid Network.

The Blockstream blog says that thanks to this step, ecosystem participants will be able to make fast and secure payments using Confidential Transactions technology, which is oriented towards increased privacy, as well as multi-signature functions. In addition, investors and traders will be able to carry out atomic swaps between Liquid BTC and Stablecoin, and will also be able to replenish their exchange USDT wallets more quickly.

The input and output of Liquid USDt is already available on the Bitfinex exchange. Support for other trading platforms, including BTSE, BTCTrader / BtcTurk, OKEx, OKCoin, RenrenBit and Sideshift AI, will appear soon.

According to the developers, Blockstream Green wallet is suitable for storing Liquid USDt. They also promise to soon add support for the new asset to Trezor hardware wallets.

Tether’s launch on Liquid coincides nicely with the recent surge of interest in the Liquid Swap Tool. The Liquid Swap Tool is an open source application that allows traders to execute atomic swaps with their counterparties, exchanging any Liquid-based asset for another.
 

Samson Mow

Blockstream team

In the future, Blockstream and Tether plan to launch USDT tokens on the second-tier Lightning Network.

Liquid is a federated sidecoin of Bitcoin, functioning as a settlement and payment network for cryptocurrency exchanges, market makers, brokers and other financial institutions.

Atomic swaps are the operations of exchanging one cryptocurrency for another, which can be implemented instantly without having to rely on a trustworthy third party represented by the exchange or exchange platform. As a result, control over the transaction is carried out exclusively by the parties involved in it.