When Ardoino was asked to “smooth brain talk” the tweet and was questioned if the update was good or bad, Tether’s CTO replied that it was “good.” Tether is the largest stablecoin by market capitalization and today, the USDT market cap is around $67.95 billion.
Tether’s entire valuation equates to 7.044% of the $966 billion crypto economy. Moreover, tether’s trade volume on October 3 is more than half of the crypto economy’s aggregate trade volume worldwide.
During the last 24 hours, the entire crypto economy recorded $48.43 billion in global trade volume, while USDT accounts for $28.63 billion of the trades. 64.53% of ’s share of trades are paired with tether (USDT) today, and USDT accounts for 34.27% of ethereum (ETH) swaps on October 3.
“As promised, Tether will once again demonstrate a commitment to transparency in our next quarterly attestation,” Tether explained in a note sent to Bitcoin.com News on Monday. “Portfolio updates to look out for include a reduction in commercial papers, now making up less than $50M of its reserves and the holding of 58.1% of its assets in U.S. Treasury bills.”
“In the upcoming attestation report, Tether will continue to validate the business, the strength of its reserves, and further solidify its position as the industry’s leading stablecoin,” the representative for Tether Holdings Limited added.
What do you think about the Tether CTO’s recent portfolio update that notes Tether has more commercial paper holdings today? Let us know what you think about this subject in the comments section below.
