Huobi to Join China Supported Blockchain Alliance

In addition to Huobi, BSN includes UnionPay, China Mobile and China Telecom, as well as China Merchants Bank International and WeBank
02 December 2019   170

The Chinese division of the Huobi cryptocurrency exchange is among the first members of the Blockchain Services Network (BSN), organized by the State Information Center (SIC) to unite industry representatives, The Block writes with reference to local media.

Information about the members of the new association was disclosed at the conference on December 1. In addition to Huobi, it includes China UnionPay, a Chinese payment system, supported by the authorities of the telecommunications giants China Mobile and China Telecom, as well as China Merchants Bank International and WeBank.

According to the Xinhua News Agency, BSN aims to provide infrastructure platforms in the field of blockchain services that will bring together different networks, regions and institutions. According to the publication, the platform developed by China UnionPay and China Mobile has already been “successfully deployed.”

Recently, Huobi opened an official unit in the Chinese province of Hainan, writes The Block. On Sunday, President of the Hainan Financial Supervision Authority Yang Chen said that a regulatory sandbox model was being introduced in the region to test financial technologies and blockchain.

Tether to Add a Half Of Billion Dollars

Acc. to data on the Tether website, the most of the USDT were issued on the ETH chain - $2.22B, another $28M is being prepared for release
11 December 2019   93

According to analysts at Trustnodes, Tether's stablecoin market supply (USDT) recently increased by half a billion dollars and now stands at almost $ 4.7 billion.

According to data on the Tether website, the most USDT stablecoins were issued on the Ethereum blockchain - $ 2.22 billion, another $ 28 million is being prepared for release.


Tether Stablecoins Tables

The stablecoins on the Omni protocol are slightly less - $ 1.75 billion. However, it is interesting that the volume of USDT on the basis of Tron is already approaching $ 1 billion. For comparison, in September the cost of stablecoins on the Tron blockchain was only $ 100 million, on Ethereum - $ 2 billion, and Omni - $ 2.5 billion

EOS-based tokenized dollar is much less popular - $ 5.2 million. Also, insignificant volume of stablecoin based on the euro is about 40 million coins, and the total value of Tether coins based on the renminbi is ¥ 23,533,468 (~ $ 3.3 million).

It is noteworthy that according to the CoinMarketCap service, since September Tether's capitalization has not changed and amounts to only $ 4.12 billion (and not $ 4.67 billion, as indicated on the company's website):

Tether Charts at Coinmarketcap
Tether Charts at Coinmarketcap

This may mean that approximately half a billion USDT have been released to the market in the past few days. 

Whale Alert @twitter
Whale Alert @twitter

As you can see, according to WhaleAlert, literally today, 200 million USDT went to the Binance exchange.