USDT on TON chain surpasses $1 billion: Token Terminal
Tether’s stablecoin continues to dominate rivals, including Circe’s U.S. Dollar Coin (USDC).
Tether’s stablecoin, USDT, has surpassed $1 billion in circulating supply on The Open Network (TON), according to data from Token Terminal, a crypto researcher.
The uptake underscores USDT’s dominance among United States Dollar-backed stablecoins and TON chain’s rising popularity despite setbacks to Telegram, the social media platform that created TON chain in 2018. Telegram’s CEO, Pavel Durov, was arrested in August.
Tether’s USDT is the stablecoin of choice on many Telegram Mini Apps, which are applications that operate on Telegram’s messaging platform and settle on TON chain.
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Author: Alex O’Donnell
