Tether Didn’t Issued USDT At ERC-20 Since 50 Days
According to an analytics data record, StableCoin giant Tether didn’t minted even a single USDT on Ethereum Network. Experts believe it is because of the lack of demand for USDT on the ERC-20 network.
Recent data records shows, Tether didn’t minted USDT on Ethereum Network after 31 may. This is a record where the Ethereum network didn’t get supply from USDT with such long gap.
In the present time total USDT on ERC-20 issued is around $28.9 billion which is really a huge amount. In old times, the ERC-20 network was better to make transactions because of low fees. At that time load on Ethereum network was very low but this time load is at tremendous level. The Ethereum team is working on fixing the transaction fees and Increasing the efficiency of the Ethereum network through London Update.
Related: Ethereum’s London hard fork is deployed on the Rinkeby testnet
All experiments are going on Testnet and it is expected to Launch Ethereum into Ethereum 2.0.
Well this shows a very very tense situation for the Ethereum team because even though they are the second largest cryptocurrency provider, they are not getting better demand for Ethereum use for other assets.
The main reason for Tether to not issue USDT on ERC-20 is high fees, people have lots of better options in comparison with ERC-20.
Binance smart chain (BSC), TRC-20 like Network are far better than ERC-20 because of their fast confirmation speed and low fees.
Related: What Is The ERC-20 Network? And How Is It Related To Ethereum?
In the present time there is 31.9 billion USDT minted by Tether on TRC-20. While 62.3 USDT are in circulation on TRC-20 Network. This clearly shows how much better the TRC-20 Network is in comparison with other Network.
Read also: I don’t feel necessarily safe in Crypto space : Ethereum Co-founder
