According to Messari, the cryptocurrency version of the EDGAR database, recently the share of transactions in stablecoins on the Ethereum blockchain has significantly exceeded the same indicator of ETH.
“Basically, it’s about huge volumes of USDT transactions. If you look at the weekly charts, the “coup” took place in mid-2019. Since then, the difference in volumes has only grown, ” wrote Messari analyst Ryan Watkins on the social network Twitter.
The researchers note that this gap in transaction volumes shows the trust of users and companies in cryptocurrencies that are fully backed by Fiat funds.
In April last year, Tether, the company behind the usdt stablecoin, began transferring tokens from the Omni Bitcoin blockchain to the Ethereum blockchain. Soon after, the volume of transactions with USDT and exceeded the volume of ETH transactions.
Tether also issued its own tokens on the basis of the block chain Tron, EOSIO and Liquid. At the same time, as of mid – December last year, there are USDT worth $2.2 billion on the Ethereum blockchain, $1.6 billion on Omni, and $1 billion on Tron.