• 21/10/2024

Tether (USDT), a stablecoin backed by the U.S. dollar, has recently reached a record market capitalization of $120 billion. This milestone comes during the traditionally optimistic period for cryptocurrencies known as “Uptober.” The rapid growth of Tether’s market cap reflects its increasing popularity, especially in emerging markets and regions with limited access to traditional banking systems.

Launched in 2014, USDT was designed to provide stability in the volatile cryptocurrency market by maintaining a 1:1 peg with the U.S. dollar. Today, it is widely used across multiple blockchain networks, including Ethereum and Tron, playing a crucial role in enhancing liquidity and facilitating fast, low-cost transactions. Tether has also surpassed 350 million users globally.

This surge in market capitalization is seen as a sign of renewed confidence in digital assets as the crypto market prepares for a potential new bull run. The growth of Tether enhances liquidity, making it easier for traders to transact and fueling optimism for further gains, especially during the “Uptober” period.

Tether’s rise not only cements its position as one of the leading stablecoins but also highlights the critical role these assets play in the global digital financial ecosystem​.

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PERIODIC BURNING

A percentage of transaction fees from manual arbitration operations, in addition to the full amounts from License purchases for operations in the automatic arbitration system, will be used to burn Clash Hub Coin tokens. This will accelerate burning, decrease supply, and increase scarcity of the token.

100% of tokens converted to USDT during withdrawals from the staking system, arbitrage system and flash loans will be burned, promoting a continuous decrease in the total supply.

OBJECTIVE OF BURNING

Reduce 90% of the total supply over 1 year through periodic burning and conversions of staking rewards and token affiliate system into USDT. 90% of the supply will be burned, equivalent to 900 million tokens at a price of $0.01, corresponding to 9 million dollars in transaction volume. Then the current model of the affiliate system will conclude and the token will be launched in the public sale phase after the full burning of 90% of the supply.

Total supply of tokens will be burned and released on DEX`s for public sale at a price of $0.02, doubling the capital of Clash Hub Coin Token holders.