The Dominance of Ethereum and Tron in Tether Wallets
If you’re curious about the distribution of USDT, one of the most popular stablecoins, you’ll find that Ethereum and Tron are the leading platforms for this digital currency. As of September 4, 2023, Tron’s blockchain circulates around 42.82 billion tether, while Ethereum boasts about 39.02 billion. This means that over 98% of the total 82.90 billion USDT is held on ETH and TRX.
The Top Tether Wallets on Ethereum
When it comes to Ethereum, the top ten wallets holding ERC20-based USDT control a significant portion of the tokens. These wallets collectively hold around 8.34 billion USDT, which accounts for approximately 21.38% of the total 39.02 billion on Ethereum. The leading wallet, “0xF97,” belonging to Binance’s cold storage, holds 2.959 billion tether, followed by “0x47a” with 1.220 billion tether owned by another Binance wallet. Bybit’s “0xA7A,” with just over 1 billion tether, and “Arbitrum One: L1 Arb – Custom Gateway,” with 708.36 million tokens, also make the top four.
The Dominance of Binance in Tron Tether Wallets
On the Tron blockchain, Binance takes the lead, owning the top five tether wallets. Together, these wallets contain 14.809 billion tethers, which represents 37.61% of the total supply. The Tether treasury wallet “TKHu” claims the sixth spot, holding 431.74 million USDT. Kraken operates the seventh largest address with 284.36 million tether. The eighth and ninth wallets, “TRJvQ” and “TNiq9,” are controlled by unidentified individuals or entities, while the tenth wallet, “TGtgr,” holds 150.10 million USDT and remains mysterious.
Hot Take: Concentration of Wealth in Tether Wallets
These statistics highlight the concentration of USDT in a few wallets, both on Ethereum and Tron. While this may raise concerns about wealth distribution and centralization, it also reflects the popularity and trust in platforms like Binance. Understanding the dynamics of these leading wallets can provide valuable insights into the behavior of cryptocurrency markets and the influence of major players.
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