According to cryptocurrency data platform Coingeco on the 9th, as of 8 a.m. the previous day, the stablecoin Tether
Global trading volume of Tether surged 390% from the previous day to $138,034,100,000 (approximately 20 trillion yen). This means that Tether trading volume increased by about five times in a single day.
Tether is the world's number one stablecoin, with its value pegged 1:1 to the dollar. 1 USDT is worth 1 dollar.
The sudden increase in Tether trading volume is believed to be due to increased demand for the safe haven dollar amid the intensification of global trade disputes.
On the 4th of last month, China announced that it would impose a 34% tariff on all US imports, a retaliatory measure in response to the US's announcement that it would impose a reciprocal tariff of 34% on China.
On the 7th (local time), US President Donald Trump announced through Truth Social that if China does not withdraw its retaliatory tariffs of 34%, an additional 50% tariff will be imposed.
The economic uncertainty has grown even more as the "strong dollar" phenomenon continues. It is analyzed that stable coins are attracting attention as an alternative to the dollar.
For investors, they can purchase stablecoins with one click on a cryptocurrency exchange, which is more convenient than visiting a bank to buy dollars.
Kim Min-seong, director of the Korbit Research Center, a subsidiary of South Korean cryptocurrency exchange Korbit, said:
"It's much more convenient for users to buy dollar-denominated stablecoins on an exchange than to wait in line at a bank, fill out paperwork, or buy dollars from a risky private entity," he said.
He stated.
2025/04/09 15:09 KST
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