What is the issuance volume of USDT coins? One article introduces the application scenarios of USDT coins

As of January 2023, the total issuance volume of USDT coins, a stablecoin pegged to the US dollar, stood at approximately 20.5 billion.

Oct 10, 2024 at 10:30 am

1. USDT Coin Issuance Volume

As of January 2023, the total issuance volume of USDT coins is approximately 20.5 billion. USDT is a stablecoin pegged to the US dollar, meaning that each USDT is theoretically backed by one US dollar held in reserve.

2. Application Scenarios of USDT Coins

USDT coins have gained widespread adoption due to their stability and ease of use. Here are some of the key application scenarios:

a. Cryptocurrency Trading:

• USDT is widely accepted as a trading pair on cryptocurrency exchanges, providing traders with a stable reference point.

b. International Payments:

• USDT can be used for fast and cost-effective international payments, reducing the need for expensive currency conversions and banking fees.

c. Stable Value Storage:

• Individuals seeking a hedge against market volatility or those residing in countries with unstable currencies use USDT to store their funds in a stable manner.

d. Decentralized Finance (DeFi):

• USDT serves as a bridge between traditional finance and DeFi platforms, enabling users to access decentralized applications and yield-generating opportunities.

e. Gambling and Gaming:

• USDT is commonly used as a payment method in online gambling and gaming sites, allowing players to participate in activities without risking their fiat currency holdings.

f. Arbitrage and Scalping Trading:

• USDT plays a role in arbitrage and scalping trading strategies, where traders exploit price discrepancies between different exchanges.

g. Stable Asset for Loans:

• USDT can be used as collateral for loans on cryptocurrency lending platforms, providing borrowers with access to liquidity.