Binance’s New Stablecoin is a Serious Threat to Tether’s Dominance

Although there were some periods wherein the dominance of Tether demonstrated signs of slight decline in December 2018 and in April 2019, ultimately, due to strong demand from users in Asia, Tether has been able to secure its dominance over the global stablecoin market.

According to a report released by Diar, Tether’s on-chain transaction volume, meaning the volume of the stablecoin on blockchain networks like TRON and soon EOS, achieved a new all-time high for 2019.

“On-chain data shows Tether movements hitting a new all-time-high for 2Q19 with one month left on the calendar for the period. What is most striking, however, is the volume coming in and out of Chinese exchanges dwarfs western and global trading venues and accounts for more than half of the total transaction value of known parties,” the research firm wrote.

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