Avalanche-issued Tether tokens (USDt) are now trading on Bitfinex


The Tether trust recently announced that USDt tokens can now be traded on Bitfinex, which is a major step for the project. It remains to be seen if this will lead to increased trading volume and how different exchanges might choose to implement USDt in their systems going forward.

The “usdt avalanche contract” is a token that has been issued by the Avalanche project. It is now trading on Bitfinex.

According to a press statement published with, Tether tokens (USDt) are now accessible on Avalanche, a decentralized smart contracts platform developed for the scale of global banking and commerce.

 Avalanche is a highly scalable ecosystem that aims to provide near-instant transaction completion while charging cheap transaction costs. It works with Ethereum smart contracts and tools, allowing Ethereum developers to create high-performance decentralized applications rapidly (dApps). 

The introduction of Tether’s token on Avalanche aims to assist the Avalanche network’s long-term development and sustainability while also boosting stablecoin adoption throughout the DeFi ecosystem.

Tether’s CTO, Paolo Ardoino, stated, “We’re delighted to launch USDt on Avalanche, giving its expanding and lively community access to the most liquid, reliable, and trustworthy stablecoin in the digital token ecosystem.” 

“Avalanche is an advanced project that has Ethereum Virtual Machine compatibility and might be a crucial driver for developers wanting to transfer decentralized apps over from Ethereum,” he said.

 “USDt on Avalanche is a vital building piece for DeFi users,” said Avalanche Foundation Director Emin Gün Sirer. “Tether has established itself as a well respected, time-tested stablecoin with widespread acceptance across exchanges.” With Avalanche as its base, it will be much more powerful,” he said.

The Avalanche ecology is expanding.

Avalanche is rapidly expanding, with new all-time highs in transaction volume, unique addresses (currently over 670,000), and assets moved from Ethereum to Avalanche through the Avalanche Bridge ($5.9 billion) being reached. According to DeFi Llama statistics, Total Value Locked (TVL) has climbed from $300 million in August to over $10 billion now.

USDt is the most valuable stablecoin, with a market value of over $73 billion dollars and a gain of $47 billion dollars since January 1, 2021, which is larger than the total market capitalization of all competing stablecoins.

In addition to its introduction on Avalanche, USDt has been linked directly with Bitfinex, allowing Bitfinex customers to access USDt with near-instant finality and costs that are far cheaper than what they are accustomed to.

USDt is compatible with Algorand, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Tron, and Solana, among other blockchains. Tether is motivated by a desire to encourage and empower burgeoning blockchain companies and innovation.

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The “tokens on avalanche” is a cryptocurrency that was issued by the Avalanche-project. The tokens are now trading on Bitfinex.

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