Tether’s USDT, the largest stablecoin in the world, has now launched on the Bitcoin Cash network. With this development, USDT has become a lot more accessible as its interoperability spreads.
“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains. Our latest collaboration with Bitcoin Cash will provide Tether with a variety of benefits. We expect the adoption after launch to be pretty easy for any integrator.”
USDT has seen a surge of activity in recent times. As fear spread through the crypto market because of the global effects of the coronavirus, a lot of activity poured into stablecoins. USDT jumped and is now the fourth-largest digital asset in the crypto market. The rise in market cap is coming at a time when other assets are mostly crumbling.
Just last month, USDT was the seventh-largest asset by market cap.
USDT has overworked the Ethereum blockchain a lot, in recent times. As more USDT entered into circulation, the effect on the network became worse. This is so, considering that other blockchains support USDT. Now that the Bitcoin Cash network has been added, this could take a lot of weight off the Ethereum platform.