{"id":445872,"date":"2022-05-12T13:50:53","date_gmt":"2022-05-12T10:50:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-to-move-over-1b-usdt-from-tron-to-ethereum-and-avalanche\/"},"modified":"2022-05-12T13:50:53","modified_gmt":"2022-05-12T10:50:53","slug":"tether-to-move-over-1b-usdt-from-tron-to-ethereum-and-avalanche","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-to-move-over-1b-usdt-from-tron-to-ethereum-and-avalanche\/","title":{"rendered":"# Tether to move over 1B USDT from Tron to Ethereum and Avalanche"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3befd7e6493\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3befd7e6493\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tether-to-move-over-1b-usdt-from-tron-to-ethereum-and-avalanche\/#%E2%80%9D_Tether_to_move_over_1B_USDT_from_Tron_to_Ethereum_and_Avalanche_%E2%80%9C\" >&#8221; Tether to move over 1B USDT from Tron to Ethereum and Avalanche &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_to_move_over_1B_USDT_from_Tron_to_Ethereum_and_Avalanche_%E2%80%9C\"><\/span>&#8221; Tether to move over 1B USDT from Tron to Ethereum and Avalanche &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZjg2Zjk5MDgtMTJkYS00OGUxLWFhZmUtMjRiNjg2ZGIyNDU0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Following recent developments in the sphere of stablecoins, Tether (USDT) has announced that it\u2019s coordinating a chain swap to transfer USDT assets from Tron\u2019s TRC-20 to Ethereum and Avalanche\u2019s blockchain.\u00a0<\/p>\n<p>In a tweet, Tether said that 1 billion USDT will be moved from Tron\u2019s blockchain to Ethereum. On the other hand, an additional 20 million USDT will be converted to Avalanche. According to Tether, this will not change the total supply of the stablecoin. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In few minutes Tether will coordinate with a 3rd party to perform a chain swap, converting from Tron TRC20 to Ethereum ERC20, for 1B USDt and from Tron TRC20 to Avalanche, for 20M USDt. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/tether?src=hash&amp;ref_src=twsrc%5Etfw\">#tether<\/a> total supply will not change during this process.<\/p>\n<p>\u2014 Tether (@Tether_to) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Tether_to\/status\/1524652531170881537?ref_src=twsrc%5Etfw\">May 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe announcement came amid fears of a stablecoin meltdown after the recent TerraUSD (UST) and Terra (LUNA) debacle. Apart from this, USDT also showed price fluctuations, slipping below $0.99 on many exchange platforms on Thursday. As a result, many expressed concerns over the most-traded stablecoin showing signs of struggle.<\/p>\n<p>However, in a Cointelegraph interview, Tether\u2019s chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Paolo Ardoino assured traders that USDT is not like algorithmic stablecoins such as UST. Ardoino said that Tether has a \u201cstrong, conservative and liquid portfolio that consists of cash and cash equivalents.\u201d This includes treasury bills, money market funds and commercial paper holdings.<\/p>\n<p>Ardoino also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1524413029898719234\">pointed out<\/a> that the ongoing fear, uncertainty or doubt, or FUD, surrounding stablecoins is becoming a money-making stream for some traders. He explained that some firms are buying USDT below $1 on some exchanges and are redeeming it for above $1 on Bitfinex and the Tether website.\u00a0<\/p>\n<p>In another statement released by Tether, the firm highlighted that verified customers are still able to redeem USDT on its website. The stablecoin issuer reported that it&#8217;s not facing any issues even after honoring 300 million USDT redemptions in the last 24 hours.\u00a0<\/p>\n<p>Ardoino said that despite multiple &#8220;black swan&#8221; events, the stablecoin never failed to honor a redemption. He explained that: <\/p>\n<blockquote><p>\u201cTether is gratified that the market continues to show its trust and confidence in Tether [&#8230;] We are a quickly evolving industry and as an industry. we will learn from these events together.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Terra \u2018rescue plan\u2019 still at large as LUNA falls below $5, Bitcoin spikes to \u2018$138K\u2019 in UST<\/em><\/strong> <\/p>\n<p>Meanwhile, Terra founder Do Kwon recently shared plans to restore the UST stablecoin peg. Kwon <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stablekwon\/status\/1524331181184983040\">explained<\/a> that before re-pegging UST, the path forward will be to \u201cabsorb the stablecoin supply that wants to exit.\u201d<\/p>\n<p>Because of this, Kwon endorsed the increase of the base pool from 50 million to 100 million special drawing rights. Additionally, the Terra founder said that they can decrease PoolRecoveryBlock from 36 to 18. Kwon said that this will let the system \u201cabsorb UST more quickly.\u201d\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tether-to-move-over-1b-usdt-from-tron-to-ethereum-and-avalanche\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether to move over 1B USDT from Tron to Ethereum and Avalanche &#8220; Following recent developments in the sphere of stablecoins, Tether (USDT) has announced that it\u2019s coordinating a chain swap to transfer USDT assets from Tron\u2019s TRC-20 to Ethereum and Avalanche\u2019s blockchain.\u00a0 In a tweet, Tether said that 1 billion USDT will be&#8230;<\/p>\n","protected":false},"author":1,"featured_media":445873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZjg2Zjk5MDgtMTJkYS00OGUxLWFhZmUtMjRiNjg2ZGIyNDU0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[120396,74894,74891,36041],"class_list":["post-445872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-avalanche","tag-blockchain","tag-ethereum","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/445872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=445872"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/445872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/445873"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=445872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=445872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=445872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}