Evolve markets added support for USDT deposits and account support to meet the growing demand as we are about to find out more in the Tether cryptocurrency news.
Two months after Evolve market’s new lightweight Evolve Webtrader platform debut, the company responded to the growing customer demand by introducing Tether stablecoin based accounts and deposits on its trading platform. Evolve markets added USDT support on its trading platform which was launched in 2016. USDT based trading accounts are now available to trade on the exchange with multiple methods accepted across the Webtrader and MetaTrader 5 trading platforms.
The latest platform enhancement enables user accounts to be denominated with a stablecoin asset that is not impacted by the crypto market’s volatile swings. Tether is instead pegged to the US dollar in a 1:1 ratio which offers account collateral stability without having too heavy price fluctuations. Evolve Markets chose to integrate the ETH-based ERC20 token version of Tether which is the most used form of the coin on the market.
Now that USDT deposits are available on both Evolve Market trading platforms, traders can set their account base currency to USDT and deposit their tokens and start trading with stablecoin denominated accounts. Deposits through wallets are enabled as a part of the partnership with the multi-sig wallet provider BitGo. Evolve Markets is a crypto-first trading platform that offers secure, direct, and easy access to leveraged margin trading on altcoins, bitcoin, indices, forex, and commodities through its easy to use platform with convenience and privacy provided by crypto including Tether.
In the previous Tether coin news, we reported that the market cap or the Tether supply surpassed $12 billion according to the crypto market analytics firm Coinmetrics while some still believe that the rising-valuation of the dominant stablecoin benefits only Bitcoin in the long term but some investors fear that it will make the crypto market vulnerable. Tether was the most widely utilized stablecoin for a few years and it saw some exponential growth as in 2017 the total supply of Tether was hovering at $10 million. In four years, the number increased by 1200 times.
Also, some analysts from Glassnode created a chart showing how the Ethereum fees have hit a new all-time high with major names such as Tether and Uniswap leading the spending.
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