CandleFocus Native Tether (USDT) launches on Aptos L1
2024-10-28
Author: Content Editor
Tether (USDT) has been launched on the Aptos chain after months of preparation. Aptos, known for its focus on payments, was chosen by Tether due to its technology that allows for faster and more cost-effective transactions with USDT tokens. Tether already hosts stablecoins on other chains, but selects chains like Aptos that can provide long-term liquidity. The launch of USDT on Aptos comes as the supply of USDT continues to rise, now surpassing 120 billion tokens. Aptos, with its growth in DeFi, has attracted attention and currently has over 700,000 daily active addresses. It is seen as a potential rival to more developed Layer 2 chains and has already attracted $350 million in funding. While Aptos may have an overvalued market cap compared to its locked value, it is one of the top L1 networks and is gaining traction in terms of active users and daily transactions.
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