Tether USDT Stablecoin on Polkadot Now Live on Binance: Details

The Polkadot (DOT) ecosystem has hit a whole new landmark as it is now hosting the crypto ecosystem's biggest stablecoin, Tether (USDT). As the protocol unveiled, the biggest exchange, Binance, now supports deposits and withdrawals for USDT residents on Polkadot.

Timeline of Polkadot-new, Tether

The current outlook for Polkadot price analysis remains bearish as the market witnessed another significant decline today. The price levels have plunged to $5.24, displaying a consistent downward trend since yesterday, when bears seized control and shifted the momentum in their favor.

Tether, the issuer of USDT, which has received criticism for an alleged lack of transparency in its reporting, is partnering with a Georgian university to educate people about blockchain and freedom-promoting technology.

Despite lackluster trade volume and price movements in the cryptocurrency market, Tether's market cap is rising, nearing its all-time high of $82.9 billion. Tether, also known as USDT, is a stablecoin pegged to the U.S. dollar, making its value more stable than other cryptocurrencies.

The leading decentralized exchange (DEX) protocol, Uniswap, has announced its decision to expand its operations onto the Polkadot network via the “Moonbeam” parachain in a momentous move that promises to revolutionize the decentralized finance (DeFi) scene. This strategic choice could usher in a new era of cross-chain liquidity, improving the DeFi ecosystem's effectiveness and scalability.

Polkadot price analysis shows hints of an uptrend developing gradually, after price rose 1 percent over the past 24 hours to reach the $5.5 mark. After spending the current month in a sideways pattern, DOT price has largely struggled just above the $5 support zone.

Quick Take This month, the USDT attestation report for Q1 2023 showed it held $53 billion worth of U.S. treasuries. If Tether were a country, it would be the 25th largest holder of U.S. treasuries.

In a groundbreaking move that is set to transform the landscape of digital payments, Tether (USDT), the world's largest stablecoin, is set to be integrated into Strike, a leading global money app.

Digital payment platform Strike announced on Monday it integrated Tether's USDT (CRYPTO: USDT) stablecoin into its services. With Tether's inclusion, Strike intends to streamline digital transactions and strengthen its industry standing.

Polkadot price analysis shows price in continued bearish trend, after price lowered to $5.23 over the past 24 hours. DOT has remained in a sideways trend on the daily chart since May 8, when price was at $5.6.

Tether and the payment app Strike are working in conjunction. With Strike's addition of Tether to its app, users in a growing number of jurisdictions will be able to use the USDT stablecoin as a method of payment.