Kataryna Habeliia September 14, 2020
Tether will transfer 1 billion USDT from Tron blockchain to Ethereum
The stablecoin issuer Tether will move 1 billion USDT from the Tron blockchain (TRC-20) to Ethereum (ERC-20).The total supply of coins will not change.
The company will carry out the swap on Tuesday, September 15, in coordination with “a third party”, Tether said.
In recent weeks, this is the second such stablecoin transfer between blockchains — on August 20, the issuer also moved USDT 1 billion from Tron to Ethereum.
The latest transaction indicates that USDT continues to attract increased demand from Ethereum users. At the same time, Tether is trying to reduce the load on the cryptocurrency network by adding support for alternative solutions like the OMG Network and Solana. USDT is also available on Algorand, EOS, Liquid Network, and Omni systems.
Earlier, the company announced that it was able to return 1 million USDT to a user who mistakenly sent assets to the address of the wrong contract. According to CoinGecko, the total supply of USDT has exceeded 14.7 billion, most of the coins are issued on the Ethereum blockchain.
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