Kava (KAVA) is set to be added to Tether Limited’s roster of supported blockchains, providing access to USDT liquidity on Cosmos (ATOM) ecosystem, with the initial USDT based on Kava set to be created on July 3, 2023.
On June 15, the value of the USDT stablecoin issued by Tether experienced a slight deviation from its pegged value to the US dollar, which was attributed to an imbalance in the Curve 3pool.
Tether’s USDT stablecoin reclaims record market cap of $83.2 billion despite stablecoin market decline and loss of $18 billion due to market downturn and Terra blockchain project collapse.
Strike, a Bitcoin payments firm and remittance application, has declared the integration of Tether’s USDT, the largest stablecoin globally. This recent development follows Strike’s extension into 65 more countries and the launch of a new app design that supports USDT, which was unveiled at Bitcoin in 2023.
A recent exploit in Yearn Finance has resulted in hackers generating a massive amount of 1 quadrillion yUSDT, which is worth $11.6 million. This incident highlights the need for robust security measures to prevent such attacks in the future.
Tether is emerging as the clear winner following the fall of a top-three stablecoin.
ATM users in Brazil will soon be able to convert Brazilian reals to USDT and vice versa, as well as send their USDT anywhere in the world, in real time.
