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Ethereum World News 2022-05-17 18:35:10

Over $7.5B in Tether (USDT) Redeemed in the Last Week as Stablecoin Anxiety Hits the Crypto Markets



Summary: Over $7.485 billion worth of Tether (USDT) has been redeemed for US dollars in the last week. The total supply of Tether (USDT) has reduced from the recent all-time high of $81.237 billion to $75.75 billion. The redemption of Tether and the decline of its circulating supply come on the backdrop of both UST and USDT depeging. Tether’s CTO has confirmed that USDT can keep up with market demand for the stablecoin and redemption services for USD. Over $7.485 […]


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