Tether USDT has captured a significant amount of market share in Russia where Chinese importers are using it to send money back to their home country.
This is so huge that one Moscow-based over-the-counter trader revealed that daily transaction volumes reaches as much as $30 million day of USDT.
Tether had become the cryptocurrency of choice for Chinese traders for international remittances.
Previously BTC was the primary cryptocurrency traders use to transfer money but when its value plunge in early 2108 and the effects of highly volatile digital were felt a majority of them switched to USDT.
Now most of the importers in Russia remit their money back to the county via tether.
Headlines for the world of Cryptocurrencies - July 30, 2019
- Ventures Capitalist Says More Institutions Should Invest On Bitcoin
- Possible Star Trek Flick Staring William Shatner Good For Crypto
- The Highest Trade Ever, Literally
- Incorporating Crypto Into Sports
- Ripple Asks For Crypto Fair Cryptocurrency Regulations
Headlines for the world of Cryptocurrencies - July 29, 2019
- Ventures Capitalist Says More Institutions Should Invest On Bitcoin
- Possible Star Trek Flick Staring William Shatner Good For Crypto
- The Highest Trade Ever, Literally
- Incorporating Crypto Into Sports
- Ripple Asks For Crypto Fair Cryptocurrency Regulations
