Paolo Ardoino, technical chief of Bitfinex and Tether Ltd, announced on Twitter that, after today, a staggering amount of USDT will be transferred from Tron’s TRC20 to Ethereum’s ERC20: $ 2,000,000,000.

 

 

Ardoino has therefore promised that the amount of USDT in circulation will not change.

 

Tron is about to lose two billion USDT to Ethereum

The amount of USDT that is about to move from the tron ​​chain to Ethereum seems to be the largest amount sent to Vitalik Buterin blockchain from Justin Sun’s blockchain recently.

These transfers happen frequently and Ethereum continues to be a much more popular base for USDT. According to the Tether transparency page, Ethereum has a total of 15,917,977,739.61 USD in circulation.

Tron, which comes after ETH, has USDT worth a total of $ 10,644,377,690.72 in circulation.

It was originally available in the USDT Omni chain. Apart from Ethereum and Tron, the most popular USD-backed stablecoin can be found on EOS, Liquid, Algorand and SLP blockchains.

 

Ethereum local token hits an all-time high of $ 1,567

On February 2, ETH, the second largest cryptocurrency, took a massive rise and hit an all-time high of $ 1,567 on the charts.

The rise of ETH is due to the continuous growth of the Ethereum-based DeFi sphere, the launch of the phase zero phase of Ethereum 2.0 in early December 2020, and the anticipated launch of ETH-based futures at CME in February.

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Meanwhile, staking continues to lock ETH in the Ethereum 2.0 deposit contract. According to data shared by Glassnode, the total value of locked-down ETH currently amounts to $ 4.09 billion.

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