The Chinese cryptocurrency exchanges are responsible for 60% of the global transaction volume of stablecoin Tether on the blockchain. These are the results of research company Diar. So, according to experts, since the beginning of this year, trading platforms from China have received more than $ 10 billion in USDT.
Last year, this value amounted to $ 16 billion. For comparison, the volume of incoming Tether transactions on the blockchain associated with American exchanges from the beginning of the year was $ 450 million, which is 3% of the total.
At the same time, only two exchanges - Binance and Bitfinex - account for about 31% of the total. In previous years, their share was about 47%.
Diar also argues that a large UDST turnover on stock wallets should not be associated with frequent mood swings by traders. Analysts suggest that the high volumes of these transactions are due to the desire of bidders to secure their assets, for example, from hacking into trading floors. At the same time, the behavior patterns of the Chinese stock exchanges, where there is an increased demand for Tether, do not have any particular differences from the American platforms.
Recall that last week it became known about the upcoming release of USDT on the EOS blockchain.