- USDT gets launched upon the Polygon network.
- USDT is expected to soar high with a much greater market cap.
- Focus towards stablecoins high, amidst Terra UST Fails.
The talks or even people rather noticing the stablecoins have been almost nil, until the recent Terra UST downfall. Since the past two weeks, the focus towards stablecoins has catapulted like anything.
Amidst such scenarios, the most widely preferred stablecoin available in the market and indeed the best, has upgraded itself even more now. Yes, the Tether USDT leads the stablecoins, with now even more powerful with getting launched upon the Polygon network.
Perks of USDT on Polygon
On 27th May 2022, USDT officially launched the Polygon network blockchain. This particular news was in the headlines for the past six months. Being the king of the stablecoins, now USDT will continue its reign forever.
With a complete market capitalization of more than $72.6 Billion, the USDT persists as the most widely used and traded stablecoin, since 2014. Previously, USDT was available on Ethereum (ETH), Solana (SOL), Binance (BNB), Algorand, and much more.
On the other hand, the Polygon network has always been a par over the blockchain leader, the ETH. The transaction speeds and also the most important of all, the gas fees are as low as possible upon the Polygon network.
Also, Polygon now functions as a better alternative to the ETH, solely on the costs involved. All this made the entire Polygon network a major blast in 2021, with many DeFi projects adding o like the Curve Finance (CVX), Aave and much more.
In spite of this, the Chief Technology Officer of Tether, Paolo Ardoini states that the growth of Polygon has been incredible and with Tether into it, Polygon will soar to even greater heights.