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Tether (USDT): What Next For The Stable Coin After Latest Events

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Tether (USDT): What Next For The Stable Coin After Latest Events

Tether (USDT) has not made many rounds in the news until recently with some major developments coming in for the coin. The most popular stable coin has continued to wax in strength in terms of user base despite the current bearish market.

The recent spike in the value of Binance Coin (BNB) has seen it overtake Tether to become the 7th largest crypto based on Marketcap. This has led to major investors speculating that USDT could be at a point where it has stagnated in terms of its price value.

Tether (USDT) To Release Token On Tron (TRX) Network

However, this could be about to change with the impending partnership between the stable coin and Tron (Trx).  Tron’s CEO Justin Sun announced that a partnership had been agreed with Tether (USDT)  to launch a token on the Tron blockchain platform billed for the second quarter of 2019.

According to Sun, this development would enable Tron to have a stable coin that would improve their network while making it accessible for organizations to utilize the Tron blockchain platform. He also highlighted that the TRX/USDT pairing would curtail the risk and volatility in the crypto trading market.

Also READ  Why Tron Is Ahead In The Crypto Space

Tron (TRX) Looking To Challenge Omni Platform with Partnership

This move is to directly challenge the dominance of Omni which one of the top platform used to trade and create custom digital assets including cryptocurrencies. The TRC20 token would be based on a similar standard to Ethereum’s ERC 20 tokens.

Tron is looking to speed up the transaction process which takes hours to complete on Omni while charging no fee for users. this would be revolutionary and could potentially attract a lot of users as Omni charges between $1-$10 as transaction fees.

Tether (USDT) Looking To Make Gains With The Partnership

The partnership with Tron (TRX) is good news for the stable coin as it would be able to release a token paired with one of the most technologically driven assets in the crypto space. Tether has over 2 billion assets on its USDT tether blockchain making it the most comfortable stable coin in the market.

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This would be a major plus for the blockchain which has been riddled with accusations of manipulation of bitcoin (BTC) in the past. It remains to be seen how the new token would fare when released in the second quarter of the year.

Writer, editor and digital space observer with 5 years experience in the blockchain industry. Mail him at adeniji.olowo@todaysgazette.com.

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