China leads the global trading volume with the Stable Coin Tether with over 10 billion US dollars equivalent. According to Diar, they dominate global transactions with a market share of 60 percent.
The Middle Kingdom occupies a dominant position in global trade with the stable coin tether. According to a report by Diar’s crypto analysts, they lead trading with USDT with a total volume of ten billion. In comparison, the USA has a trading volume of 450 million USDT. This means that the US tether volume has fallen from 47 percent in 2017 and 2018 to 31 percent in the current year. As the data further shows, tether trading volume is also at an all-time high in the second quarter of 2019.
In addition, 31 percent of the global tether trading volume is distributed between the two Bitcoin exchanges Binance and BitFinex. While both are market leaders in crypto trading, the latter is closely linked to stable coin trading. PrimeXBT is also a great exchange, a review can be found on bestbitcoinexchange.net.
Diar also notes that the major coin movements are not a cash-out of potential investors. Rather, the high number indicates increased trading activity on the stock markets. In other words, the stable coin tether is used according to its utility to switch between different crypto currencies and skim off any profits.
Furthermore, Diar confirms that the tether volume roughly corresponds to the reported trading volume of the exchange. From this, the analysis company speculates, one can conclude that there is currently a decrease in counterfeit trading volume. This cannot be confirmed with certainty. Nevertheless, it points out that the circulating assumptions that over 90 percent of the trading volume is fake data are incorrect.
More about the Stable Coin Tether
Stable coins are initially used to depict values such as the US dollar or other assets. They thus offer a kind of counterpole to the otherwise volatile crypto currencies. This makes them suitable, for example, for parking money at short notice if you want to protect yourself from possible price losses.
Tether is currently the largest of these stable coins. In the past, however, he has been repeatedly criticized because the operators are suspected of working with unfair methods.