Altcoins
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The latest announcement of the integration of the stablecoin Tether (USDT) into the Polkadot network is already bearing fruit. The fact is that the parachain of the Statemint protocol recorded a parabolic jump in the total trading volume with a stablecoin by 125% per day. This happened after the developers shared the news about the implementation of new features on Twitter.
Users have appreciated the long-term positive impact of USDT on the Polkadot ecosystem. Thanks to the millions of clients of the Binance exchange, parachains and decentralized applications based on this network will gain great popularity among cryptocurrency users. In addition, according to users, the collaboration between Tether and Polkadot will release huge liquidity, which will give growth momentum for yield protocols and applications in the decentralized finance (DeFi) sector on the blockchain.
The researchers noted: this is an important milestone in the development of a startup. According to them, the industry is still in the early stages of evolution and the ability to have access to stablecoins pegged to the value of the US dollar is one of its biggest advantages.
Over the past few months, the crypto community has seen Polkadot developers sign several important partnership agreements. All actions of the project management were taken in order to scale the existing ecosystem and expand the mass adoption of the DOT cryptocurrency.
The researchers specifically noted that in addition to integrating Tether, the Uniswap protocol was also launched on Polkadot in early May 2023.
As of 18:45 Moscow time on May 26, 2023, the value of the DOT digital coin was fixed at $5.27. The market capitalization of the cryptocurrency was $6.25 billion. This figure fell by 15.2% over the past month.
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