2019-09-17 Tether’s use of Ethereum rises 1,000%, clogging up the network – Decrypt

Tether has switched its focus to Ethereum, and it’s already putting a heavy load on the blockchain platform. The stablecoin was mostly based on Bitcoin (via a tool called the Omni layer) but has recently swapped the majority of its tokens over to Ethereum instead.In fact, since July, the number of Ethereum-based Tether transactions has increased from around 18,000 per day to 187,912 as of September 9, according to data from Coin Metrics. These transactions now account for 25% of all Ethereum activity.

Source: Tether’s use of Ethereum rises 1,000%, clogging up the network – Decrypt

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