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Report on Tether identifies over 70% of ‘all funds ever issued’
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Top stablecoin Tether has emerged to become the cryptocurrency industry’s primary crutch over the past seven years, according to a new report. The report noted that Tether acts as a tool for “oiling crypto markets to keep them smooth.” USDT acts as a bridge between fiat currencies and cryptocurrencies that operate on open blockchain networks.
The report by crypto outlet Protos aimed to take an in-depth look into the most common stablecoin, mostly to analyze which liquidity providers are buying the token and supplying it to cryptocurrency platforms. It found that two market makers are the essential purchasers of issued USDT, who have together acquired almost 55% of all outbound volume ever.
According to Protos, Alameda Research and Cumberland
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