Tether (USD₮) to Launch on the Aptos Blockchain

Tether- the issuer of the biggest stable coin USDT, dropped a huge announcement that's gonna make transactions dirt cheap and super efficient.

Stablecoin issuer Tether has announced that it will be bringing its USDT stablecoin to the Aptos blockchain in a move that is set to make transactions dirt cheap and super efficient.

Tether's Big Move to Aptos

On August 19, Tether announced that it is bringing its stablecoin, USDT, to Aptos. This is not just a random update but a strategic partnership.

Tether (USD₮) To Launch on Aptos Blockchain

Learn more: https://t.co/oAZcqa5RRv

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Aptos is known for being super fast and scalable, which translates to very low gas fees. We're talking about doing transactions for just a fraction of a penny. Imagine that! No wonder Tether CEO Paolo Ardoino couldn't hide his excitement, saying that Aptos' technology will make transactions faster and more cost-effective.

The Numbers Behind the Move

So, why would Tether choose Aptos? Well, Aptos has been on a roll this year. Its daily active users went from 66,560 in January to a massive 346,883 by June.

To top it off, on August 15th, the network handled 326 million transactions in a single day, reaching over 12,000 transactions per second at peak times. These numbers show that Aptos can handle huge volumes like a champ.

Most of Tether's $116 billion supply is on TRON and Ethereum, which hold 88% of the total, according to DeFillama. Moving to Aptos could spread this out and boost liquidity across different networks.

Nansen Teams Up with Aptos

In other Aptos news, blockchain analytics provider Nansen is teaming up with the Aptos Foundation. They announced this partnership in July, and it's all about bringing the best on-chain data and analytics to Aptos. Bashar Lazaar from the Aptos Foundation said this will help builders, projects, and protocols make the most of on-chain data.

A Broader Perspective

Tether has been shifting its focus to “enhancing community-driven blockchain support.” It recently dropped support for EOS and Algorand. Bringing USDT to Aptos is part of Tether's push for innovation and making digital currencies more user-friendly.

Now that USDT is live on Aptos, things are looking up for both parties. This partnership might just change the game in the digital currency space, setting a new benchmark for transaction costs and efficiency.

Also Read : 75% of Bitcoin Locked Up: Is the $100K Surge Just Around the Corner?

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