@BOMBERuss 13 May 2022 more from that month

Representatives of #Tether Limiten announced on Twitter that they are going to move more than $1 billion worth of stablecoins from the Tron blockchain to Ethereum, as well as an additional $20 million to Avalanche. According to the announcement, this will not change the total volume of the #USDT offer. The announcement was made amid fears of a collapse of the stable coin due to the recent fall of #Terra (LUNA) and TerraUSD (#UST). Earlier, the stablecoin price dropped to $0.95 on some cryptocurrency exchanges. This has raised concerns among traders, despite the fact that USDT is considered to be backed by traditional currencies. Unlike TerraUSD, whose reserves are supported by #bitcoin (#BTC), whose exchange rate has collapsed to a record level of $26,700 over the past year. Be that as it may, traders continue to sell their USDT at an undervalued price. Tether Technical Director Paolo Ardoino has already hastened to assure traders that USDT is not like algorithmic stablecoins such as #UST. According to him, Tether has a "strong and liquid" portfolio, which includes traditional money and their equivalents. Among them there are treasury bills, commercial securities and units of money market funds. Ardoino stated that now some are trying to sow fear and doubt in stablecoins by manipulating information. Some traders, the expert says, are trying to enrich themselves in this way. There are companies that buy USDT below $1 on some exchanges and sell at a higher price on the Bitfinex #cryptocurrency exchange or on the Tether website, says the technical director.