{"id":204264,"date":"2021-11-10T15:00:38","date_gmt":"2021-11-10T15:00:38","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=204264"},"modified":"2021-11-12T13:19:32","modified_gmt":"2021-11-12T13:19:32","slug":"avalanche-issued-tether-tokens-usdt-are-now-trading-on-bitfinex","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/avalanche-issued-tether-tokens-usdt-are-now-trading-on-bitfinex\/","title":{"rendered":"Avalanche-issued Tether tokens (USDt) are now trading on Bitfinex"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\"><span style=\"font-weight: 400;\">Tether tokens (USDt)<\/span><\/a><span style=\"font-weight: 400;\"> are now available on <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/avalanche\/\"><span style=\"font-weight: 400;\">Avalanche<\/span><\/a><span style=\"font-weight: 400;\">, a decentralized smart contracts platform built for the scale of global finance and business, as per a release shared with CryptoSlate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0Avalanche is designed as a highly scalable ecosystem, with the aim of delivering near-instant transaction finality while levying low transaction fees. It is compatible with Ethereum smart contracts and tooling, enabling Ethereum developers to quickly build high-performance decentralized apps (dApps).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tether\u2019s token\u2019s launch on Avalanche will aim to support the long-term growth and sustainability of the Avalanche network while driving stablecoin usage across the DeFi ecosystem.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe\u2019re excited to launch USDt on Avalanche, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space,\u201d said Paolo Ardoino, CTO at Tether.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cFor those who believe in the development of Layer-1 blockchain platforms Avalanche represents an evolved project that boasts Ethereum Virtual Machine compatibility and could be an essential driver for developers looking to port decentralized applications over from Ethereum,\u201d he added.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0&#8220;USDt on Avalanche is an essential building block for DeFi users,&#8221; noted Emin G\u00fcn Sirer, Director of the Avalanche Foundation. &#8220;Tether has become a well-accepted, time-tested stablecoin with extensive support throughout exchanges. It will be even more powerful with Avalanche as its foundation,\u201d he further explained.<\/span><\/p>\n<h2><b>The growing Avalanche ecosystem<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Avalanche is growing at a rapid pace, hitting new all-time highs in user activity, including transaction volume, unique addresses (now over 670,000), and assets transferred from Ethereum to Avalanche over the Avalanche Bridge ($5.9 billion). Total Value Locked (TVL) has increased from $300 million in August to over $10B today, according to data from DeFi Llama.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">USDt is the pre-eminent stablecoin with a market capitalization of over US $73 billion, having added US$47billion since January 1, 2021, a gain that is greater than the combined market capitalization of all rival stablecoins, combined.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to the launch of USDt on Avalanche, it has been integrated directly with Bitfinex, enabling its users to access USDt with near-instant finality, and fees much lower than what they are used to paying today.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">USDt works across a diversity of different blockchains, including Algorand, Bitcoin Cash\u2019s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tron, and Solana. Tether is driven to support and empower growing ventures and innovation in the blockchain space.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether tokens (USDt) are now available on Avalanche, a decentralized smart contracts platform built for the scale of global finance and business, as per a release shared with CryptoSlate. \u00a0Avalanche is designed as a highly scalable ecosystem, with the aim of delivering near-instant transaction finality while levying low transaction fees. It is compatible with Ethereum [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":204256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,32631,76736],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Avalanche-issued Tether tokens (USDt) are now trading on Bitfinex<\/title>\n<meta name=\"description\" content=\"Tether tokens (USDt) are now available on Avalanche, a decentralized smart contracts platform built for scaling finance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/avalanche-issued-tether-tokens-usdt-are-now-trading-on-bitfinex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avalanche-issued Tether tokens (USDt) are now trading on Bitfinex\" \/>\n<meta property=\"og:description\" content=\"Tether tokens (USDt) are now available on Avalanche, a decentralized smart contracts platform built for scaling finance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/avalanche-issued-tether-tokens-usdt-are-now-trading-on-bitfinex\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-10T15:00:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-12T13:19:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/11\/avalanche-tether.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/avalanche-issued-tether-tokens-usdt-are-now-trading-on-bitfinex\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/avalanche-issued-tether-tokens-usdt-are-now-trading-on-bitfinex\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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