Chinese crypto exchanges facilitate 60% of all stablecoin Tether trading globally

Chinese cryptocurrency exchanges facilitate 60% of all stablecoin tether (USDTtrading globally, according to an analysis by Diar on June 3.

According to the report, Chinese exchanges in 2019 thus far account for over $10 billion in USDT trading. The United States, in contrast, is said to account for only $450 million of USDT traded. Global exchange giants Binance and Bitfinex reportedly account for close to the remaining amount of Tether traded, accounting for 31% of USDT activity.

Additionally, the analysis concludes that the trading numbers are not misleading. According to their findings, a similar amount of sending and receiving of USDT happens both in China and globally, suggesting that the numbers represent actual trading activity and not just cryptocurrency whales cashing out.

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Source: https://cointelegraph.com/news/research-china-leads-world-in-tether-trading-volumes-in-2019