Crypto News

Why Tether is Gaining Popularity in Emerging Markets Record Number of Active Wallets Tether, the stablecoin backed by the US dollar, has recently reached a record high of 109 million active wallets. This surpasses the number of active wallets for Bitcoin and brings Tether close to Ethereum's 116 million active wallets. This surge in usage can be attributed to Tether's increasing popularity in emerging markets, especially in countries with unstable fiat currencies. Adoption in Emerging Markets One of the main reasons for Tether's popularity in emerging markets is its stability. With many developing countries facing high inflation rates and currency devaluation, Tether provides a safe haven for individuals and businesses to store their wealth. Tether's value is pegged to the US dollar, making it a reliable store of value and a convenient medium for cross-border transactions. Reactivation of Low Balance Wallets Another interesting trend is th...