The Tether Richlist shows that Binance is the most active trading community

The last month was very rocky for Tether (USDT) and a lot of spotlight was thrown on the Tether Richlist. The Tether Richlist allows for anyone to see, the wealthiest Tether wallets holding the most USDT. Tether (USDT) is a token that is allegedly backed by a US dollar on a 1:1 ratio for all issued coins. The tokens are “tethered” to the value of the United States dollar. The USDT token is a stable coin and a hedging tool for investors during bear markets.

Tether’s exchange rate fell to $0.85 earlier this month, which caused panic across many exchanges. Tether’s volume spiked, but since then it seems the token has recovered nicely, trading again for over 0.99$. Since these developments unfolded, the spotlight was on the Tether Richlist, where users can see the biggest Tether trading communities.

According to the Tether Richlist, Binance has the largest community

What most people will quickly notice in the Tether Richlist is that Binance holds the number one spot with at least 655 591 062 USDT. It’s understandable that the world’s largest crypto exchange by volume has the largest Tether trading community. What’s interesting is that Binance’s cold wallet holds more USDT than the “Tether Treasury”, which holds the second position with 650 678 763 USDT. Yesterday, they were holding 590 million so USDT tokens are changing hands fast.

The whole idea behind the Tether Treasury is that users can always be sure they can swap their USDT for USD if needed. With Tether being a company, by buying a Tether, users are essentially becoming creditors. The company then promises to pay back 1 USD for every Tether. This loan is at a 0% interest rate, which is a pretty good deal for the company. If Tether goes bankrupt, they will probably not pay users a single USD.

With Tether’s exchange rate falling to $0.85 earlier this month, a lot of token holders are having their doubts. More fuel is added to the fire with the recent reports of many users that they are unable to redeem USD for their tokens. Nevertheless, Binance is still the most active Tether trading community from all. USDT trading pairs are among the biggest trading pairs by volume, so smart traders can always do something with Tether.

Continuing down the Tether Richlist, Huobi comes third with almost 300 million USDT Tokens, followed by Bittrex, Poloniex, OKEX and Kraken. These numbers by the Tether Richlist aren’t final, because exchanges could have secret cold wallets, but it should give us an understanding on the most active Tether trading communities. In my mind, Tether is one of the best crypto hedging tools. Smart investors who predict incoming downtrends can benefit massively from learning how to hedge with Tether.

Read more:

• Kraken has been flooded with USDT Tokens, despite the downtrend
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• 250 million USDT Tokens again printed out of thin air