Tether Issues USDT on Kava Blockchain; KAVA Token Climbs 5%
Tether is looking to improve the stablecoin's liquidity across multiple blockchains.
Tether has issued its stablecoin (USDT) on layer 1 blockchain Kava as it looks to enhance liquidity across multiple blockchains, according to a .
Kava's native token (KAVA) surged as much as 4.8% to $0.937 before receding to $0.912. It remains more than 12% higher over the past 24 hours amid a wider crypto market recovery, data show.
The Kava blockchain's with improvements being made to transaction speeds and the functionality of cross-chain bridges.
USDT is currently supported on Ethereum, Tron, Binance Smart Chain, Solana and Bitcoin via Omni.
The stablecoin's market cap hit an all-time high of $83.5 billion last week as it extracts market share from its main competitor, USD Coin (USDC), which has a market cap of $28 billion.
Edited by Sheldon Reback.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
July 2024: Optimizing Balanced Through New Development
In July, ICON advanced its integration efforts and optimized system performance. Key achievements including completion of audits for Stellar, and contracts for Solana. Looking ahead to August we anticipate the deployment of Sui contracts to mainnet.|
MAX Score Airdrop Event Reward Allocation and Claim Guide
Dogs: There will be something for DOGS player on August 14th
Trending news
MoreCrypto prices
More
