Tether

The crypto sphere has developed at a remarkable rate over the course of the past half a decade, and one of the biggest developments has been the emergence of stablecoins like Tether (USDT). Despite skepticism from many in the crypto space, the stablecoin has continued to grow, and in a new development, it has been added by Algorand.

Major Details

This is a significant development for USDT, but it remains to be seen whether there is any rally in the stablecoin in the coming days. Algorand is one of the most innovative projects and operates a proof of stake blockchain that is totally permissionless.

/**/

This is a major development for the simple reason that it will result in greater use of USDT and also grow Tether’s supply considerably in the crypto space. In addition to that, Tether will also be available over a wider range of networks, and that is something that almost all tokens aspire to.

The supply of USDT has grown exponentially in recent years, and at this point in time, it has a total supply of 4.7 billion. It is trying to make use of a range of networks in order to further boost its supply.

The Chief Technology Officer of Tether spoke about the collaboration with Algorand and said how it is going to be mutually beneficial, explaining, “Our latest collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions.”

>> Bitcoin (BTC) Soars to 4-Month High, Crosses $10K Mark

Over the past few years, USDT has become an integral part of many exchanges and is often used by traders as a trading pair. However, it is now looking at ways to further boost the supply and use cases of USDT. In that regard, the latest collaboration agreed by Tether is a significant development.

Featured image: DepositPhotos © artefacti

If You Liked This Article Click To Share

/* p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } }
/*]]>*/

/**/

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



USD
EUR
GBP

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

ICo Presale
The Science Behind ICO Presales…
October 14, 2021
Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin61,304 0.18 % 6.90 % 13.50 %
Ethereum3,830.7 0.56 % 1.60 % 7.65 %
Binance Coin471.03 0.70 % 1.07 % 12.60 %
Cardano2.220 0.20 % 2.68 % 0.57 %
Tether0.9986 0.03 % 0.08 % 0.23 %
XRP1.130 0.31 % 1.50 % 6.79 %
Solana158.46 1.00 % 6.75 % 0.29 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2378 0.16 % 3.27 % 2.13 %