As a seasoned analyst with years of experience in the crypto space, I find Tether’s decision to expand USDT support onto the Aptos Network as a strategic move that aligns with my belief in embracing innovation and leveraging advanced technology for better user experiences. The integration of USDT on the Aptos blockchain will undoubtedly tap into its superior speed, scalability, and low gas fees, making digital currency more accessible globally.
Tether, a stablecoin issuer, announced on Monday its intention to introduce the U.S. dollar-linked USDT on the Aptos Network. The move leverages Aptos’ cutting-edge blockchain technology and its superior speed and scalability, as part of an overall strategy to make digital currencies more convenient and beneficial across the globe.
Tether To Expand USDT Support On Aptos
On August 19, it was revealed that Tether Operations Ltd intends to broaden USDT’s compatibility to the Aptos blockchain. This decision follows a notable expansion of the Aptos ecosystem and a rise in the number of average daily active users, which grew from approximately 96,000 in January to around 170,000 in July.
Integrating USDT onto the Aptos blockchain opens up access to cutting-edge blockchain technology, exceptional speed, and incredible scalability. Moreover, this integration offers the benefit of remarkably affordable transaction costs due to its ultra-low gas fees.
Paolo Ardoino, CEO of Tether, on integration and collaboration with the Aptos ecosystem said:
As a researcher in the field, I’m excited to share that Aptos’ groundbreaking technology provides a robust foundation for streamlining transactions involving USD₮, thereby enhancing speed and cost efficiency. This partnership serves as a testament to our commitment to pioneering solutions and ensuring our users have access to innovative, dependable financial instruments.
According to Mo Shaikh, CEO of Aptos Labs, this partnership will make use of Aptos’ ability to handle large amounts of data quickly and help expand its user community.
The collaboration between the two companies on integrating Tether onto the Ton Network has proven successful, leading to a rise in Tether creation as a result of new projects being launched on the Ton blockchain. As per Tether’s public data, approximately $730 million worth of USDT have already been minted on Ton.
APT Price Soared 3%
The APT price surged 3%, reaching an peak of $6, but it was rejected at a significant psychological barrier. At present, the price is being traded at $5.93. Over the past 24 hours, the price range has been between $5.74 (low) and $6.03 (high). Moreover, the trading volume has experienced a substantial increase of 51%, suggesting heightened attention from traders.
Based on DefiLlama’s figures, the Total Value Locked (TVL) of Aptos almost touched $400 million. Additionally, a recent study on APT suggests that its price could potentially surge to $10 if it successfully breaches the $6 resistance barrier.
Read More
- USD ZAR PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- SEILOR PREDICTION. SEILOR cryptocurrency
- EUR ILS PREDICTION
- CKB PREDICTION. CKB cryptocurrency
- TROY PREDICTION. TROY cryptocurrency
- AE PREDICTION. AE cryptocurrency
- NOTE PREDICTION. NOTE cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- Best JRPGs That Focus On Monster Hunting
2024-08-19 12:50