Tether CTO: A large part of the USDT market value growth comes from the exchange of assets on fiat currency exchanges, and the proportion of new funds entering the market is low

According to a report by Cointelegraph, Paolo Ardoino, CTO of Bitfinex and Tether, said, “In recent months, the market value of Tether has grown rapidly from US$4.6 billion to US$9.1 billion. Most people believe that most of the additional USDT issued by Tether is new capital. However, in fact, a large part of this growth comes from the fiat currency funds deposited in fiat currency exchanges that do not support stable currencies. Because over-the-counter trading platforms and trading companies convert their large number of fiat currency assets into USDT, which is more flexible, They are Tether’s main customers. In addition, part of the demand for USDT is also affected by the surge in derivatives trading platforms that use Tether or other stablecoins to settle transactions.” Paolo Ardoino finally said that there are indeed new funds entering the market, but it has not Mention the percentage of new funds entering the market.