AVAX, which attracted attention with its rise from $ 9.5 after July, approached the $ 100 limit, a good news came from Tether.
Tether, which is far ahead of its competitors in terms of market value and is the pillar of the crypto money markets, has launched the USDT stablecoin on the Avalanche blockchain.
Tether first launched this project in May. While the growth in Avalanche attracted the attention of the industry, USDT support came from Tether.
Interest in Avalanche-based DeFi projects is growing. When we look at the total value locked into the protocols, we see that it has reached 10 billion dollars from 300 million dollars in the last three months.
USDT has an important role in the DeFi market. Therefore, this support from Tether is expected to contribute to the growth of AVAX.
Speaking to The Block on the subject, AVAX founder Emin Gün Sirer evaluated the USDT move with the following words.
“An important building block for DeFi users”
Traded at $90.3 as of our news hour, AVAX continues to be the 13th most valuable cryptocurrency with a market value of $20 billion.
*Not Investment Advice.