Tether company announced the launch of stablecoin USDT on blockchain of Bitcoin Cash. Important to mention that the total capitalization of stable cryptocurrency is now above 5.7 billion dollars.
In recent days the capitalization of stablecoins majority has risen significantly in the context of cryptocurrency market fall. From 10th until 15th of March Tether company issued 300 million USDT on the blockchain-related to Ethereum.
Those coins are available today on Ethereum, Omni, Tron, Algorand, Liquid Network and EOS blockchains. Taking in mind, that at the beginning stablecoin was released on Omni Bitcoin protocol and only then appeared on other blockchains. Now a big amount of coins are located on blockchain of Ethereum – where the total sum is about 3.7 billion dollars.
Bitcoin Cash offers a huge block size and lower charges in comparison with standard Bitcoin. When a large part of coins belonging to Tether is transferred to this protocol, that fact will help to cut pressure on the platform of Ethereum. As a result, we expect the fees in a network of cryptocurrency, which owns the second place with its capitalization, to decrease.
«One of the most important advantages of our company is that it operates on a big number of platforms. We definitely will benefit from Bitcoin Cash and Tether cooperation. It is expected that adding support to our stablecoin on this blockchain will be simple. Despite this, Bitcoin Cash applications will support Tether payments, » said Paolo Ardoino, Chief Technology Officer. As we have informed, in the middle of February Roger Ver, Bitcoin.com CEO, has already mentioned that stablecoin USDT would appear on Bitcoin Cash blockchain.
