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The latest data from crypto analytics firms shows Tether's cumulative trading volume just surpassed $ 600 billion when it began to dominate on trading platforms.submitted by Ill_Preparation_2814 to u/Ill_Preparation_2814 [link] [comments]
According to on-chain analytics provider Glassnode, Tether (USDT) transaction volume has increased by about 20% over the past 30 days to hit this new cumulative milestone.
However, it should be noted that this is cumulative, not daily trading volume - which is above $ 35 billion, according to averages from Coingecko and Coinmarketcap.
The same two analytics providers also recorded Bitcoin's daily transaction volume between $ 20 and $ 25 billion, which clearly helped Tether lead the way in terms of this metric.
All you find is right here: cryptocurrency exchange
In terms of supply, USDT has increased by nearly 300% since the beginning of this year - when there was only 4 billion USDT in circulation. Today, that figure has reached nearly $ 16 billion, according to the Tether Transparency report. USDT in the form of ERC-20 still dominates Tether's supply with almost 65% of all tokens on the Ethereum blockchain.
Additionally, analysis provider Skew has noted that Tether-based futures contracts are now catching up with Bitcoin-based contracts. The company stated:
"Futures traded in USDT have been strong this year, now almost on par with contracts traded in BTC on a daily basis."
Other indicators of the world's most popular stablecoin have also been consolidated. Tether made up only a very small portion of trading volume in 2017, with standard Bitcoin making up just over 50% of transactions and fiat making up the rest. But in 2020, the situation is very different, as 70% of trading volume on exchanges is in USDT pairs.
Earlier this week, Bloomberg stated that Tether's market cap could surpass Ethereum by 2022. Currently, Tether's market capitalization is about 38% of Ethereum, but further growth is expected for both. two. In response to the report, Tether Paolo Ardoino's CTO said:
"Tether has once again proven itself to be one of the most reliable assets in the crypto space."
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DISCLAIMER: ALTHOUGH I AM KNOWLEDGEABLE ON BITCOIN, I AM NOT AN EXPERT, EXCUSE ANY MISTAKES I MAKE AND FEEL FREE TO CORRECT ME BELOW
For the past 6 months I have seen numerous posts and they are all about these things:
1) Block Size (BCash and Roger Ver)
2) Altcoins being faster than Bitcoin and they are gonna take over Bitcoin (aka RaiBlocks community)
3) Let's move to PoS or Let's use the DAG blockchain
4) Why is the Bitcoin community just being left to suffer, why won't anyone help use
5) SegWit Adoption
6) Ripple and its amazing market cap
2017 was Bitcoins most glamorous year, $20k price, $200bn market cap and it also made it to mainstream media nearly every day, especially with the rise of Wall Street Futures trading beginning. But there were negative effects, Bitcoins daily transactions volume increased rapidly, at a speed we were not ready for. The community was split into 2 (not equal parts) - Bitcoin Cash (BCash) and SegWit + Lightning Network. When Bitcoin had a surge in fees and a backlog of unconfirmed transactions, Lord Roger Ver II decided to attempt at using Bitcoin for personal gains again (3rd time lol) and increased the blocksize 8x(1mb->8mb). People thought this was genius, but what happens when 8mb is not enough and after another increase is not enough. To cope with mass adoption we need 1gb blocks min and I'm sure I don't have to explain why that wouldnt work. The larger part of the community came up with long term solutions that wouldn't change Satoshi's original ideas, SegWit and Lightning Network. Both of these fix the two main Bitcoin Network problems - Speed and Fees in 2 different ways and can both be used together. SegWit is already activated (only 10% use tho so far, more on that later) and Lightning is still in development (First transaction on mainnet happened less than 24hrs ago). The best part about lightning is Atomic Swaps. Say the bitcoin network is congested and fees are high, why not use the Litecoin network to transfer Bitcoin for lower fees and vice-versa. These are solutions we need, not increasing block size.
Altcoins are faster than Bitcoin:
Everytime I read this I nearly hung myself. Bitcoin is carrying atleast double the average transactions than your altcoin (ethereum is an exception), so its not possible to compare the two. And Bitcoins speed and fee problem only started this year. Imo, by 2019, Non-SegWit addresses will be rare and Lightning Channels will be open everywhere. Stop comparing your shitcoin to Bitcoin.
Let's Change Bitcoin to PoS or DAG blockchain:
Even more cringe. Just cause in one year there were tons of hurricanes we change Earth to Mars...
Noone is fixing Bitcoins problems:
Come out of your ignorant FUD bubble and download a SegWit wallet and play around with Lightning on testnet
Finally a serious problem. But, Core has finally prioritised bringing SegWit to the GUI wallet which means early 2018 which means other developers can see what Core has done and implement things them self. This will bring adoption to a new level! Currently, developers continue to make excuses like, new users will be confused or we are risking security, but core will have it done in a way that others can follow??
Ripples Market Cap:
Another useless topic. Stop reading mainstream media! Market cap is not how you should rank coins. It should be done based on Speed, demand, usability(is it in shops?), daily transactions, TECHNOLOGY. Anyone can fork monero and rename it...
Market Cap of ripple is high because circulating supply is 40 billion. Every cent Ripple goes up is half a billion market cap...
I really hope I have helped the idiots in this subreddit understand. Feel free to correct my points, as long as you don't want to debate on BCash, cause I'm done doing that.
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News by Coingeek: Derek Tonin
One of the biggest indicators of the success and utility of a technology has been the amount of use it gets. In the Bitcoin and Blockchain world that can be measured in several ways, but an important one is the number of transactions on any given chain. By that measure, the Bitcoin SV (BSV) blockchain has recently achieved a significant marker, passing BTC in total transactions per day.
Captured by Twitter user BitcoinHoarder, BSV passed the BTC blockchain in daily transactions on October 6, recording over 290,000 transactions in a 24 hour period, edging out BTC’s 288,000.
[email protected] It’s official. BSV surpassed BTC in transactions/day from our use/apps!!! We passed BCH and never looked back. Now we passed BTC!!!https://twetch.app/t/b7181660b466aae5a2e1cb9ba3484bfc225915c9d347304c588e162f000be35e …
119 9:36 PM — Oct 6, 2019 Twitter Ads info and privacy47 people are talking about this
Using the tools available on bitinofocharts.com, BSV ranks as having the third most transactions of any cryptocurrency they track, ranking behind only XRP (915,220) and Ethereum (571,945).
A deep dive into the numbers reveals how Bitcoin SV (BSV) is able to achieve such volumes, and the answer lies in utility and usage. The average BSV transaction comes in at 0.6263 BSV ($51.42 USD) and the median comes in at 0.0038 BSV ($0.31 USD). The latter figure is nearly impossible on the BTC chain, as it typically fail to cover the transaction fee to even make a transaction.
But a transaction for less than a dollar is the norm for BSV because it has become a popular data carrier, allowing services like WeatherSV and UptimeSV to use the Metanet protocol to transmit data over the blockchain, and in turn, pay for their services with micropayments. Over time, this new data carrier service and micropayment economy will prove to be a better model for many enterprises.
As one Twitter user noted, this trend is set to continue, as more developers build on BSV, this trend is bound to continue, as new applications will increase the number of transactions, proving the massive scaling model of BSV and increasing its utility.
[email protected] · 19h It’s official. BSV surpassed BTC in transactions/day from our use/apps!!! We passed BCH and never looked back. Now we passed BTC!!!https://twetch.app/t/b7181660b466aae5a2e1cb9ba3484bfc225915c9d347304c588e162f000be35e …
[email protected] More apps please, lets double their transactions 2 11:24 PM — Oct 6, 2019 Twitter Ads info and privacySee buyemoney.com’s other Tweets
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Daily Transaction count is one of the most important and controversial metrics for the Bitcoin Core (BTC) network. Because all confirmed transactions pay a fee, each confirmed transaction represents someone's desire to send a Bitcoin Core (BTC) transaction instead of any alternative use of that cost. Bitcoin Core (BTC) transactions can be executed and automated by software, but this is limited ... The number of daily confirmed transactions highlights the value of the Bitcoin network as a way to securely transfer funds without a third part. Notes. Transactions are accounted for only once they are included in a block. During times of peak mempool congestion, transactions with lower fees are likely to be confirmed after a few hours or even days in rare cases. While this graph is a suitable ... Bitcoin Number of transactions in blockchain per day Chart. Transactions Block Size Sent from addresses Difficulty Hashrate Price in USD Mining Profitability Sent in USD Avg. Transaction Fee Median Transaction Fee Block Time Market Capitalization Avg. Transaction Value Median Transaction Value Tweets GTrends Active Addresses Top100ToTotal Fee in Reward Bitcoin price today is $13,157.97 USD with a 24-hour trading volume of $23,730,036,740 USD. Bitcoin is up 1.33% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $243,779,373,909 USD. It has a circulating supply of 18,527,131 BTC coins and a max. supply of 21,000,000 BTC coins. You can find the top exchanges to trade Bitcoin listed on our Bitcoin (BTC) Daily Transaction Volume for On-Chain Blockchain Payments Nears Yearly All-Time Highs. by Bitcoin Exchange Guide News Team. January 11, 2019. Home Cryptocurrency News. Facebook. Twitter . Telegram. ReddIt. Linkedin. Email. The good thing about the new year has been the lack of any news about crypto prices further spiraling downwards. This lull has given the market the much-needed ...
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