What Does ETH USDT Mean (ETH vs USDT)

What does ETH USDT mean? What does ETH USDT mean?

The founder and developers of Ethereum recently posted an article on Twitter about the term “eth-usdt”. According to data from eth.org, more than 100,000 users have sent their tokens through this application. Among these wallets, there are 1 million accounts holding approximately $10 million worth of ETH, most of which are Bitcoin (BTC) or Ether. So there is a strong connection between these two letters as they both identify the same digital asset.

ETH vs USDT

Editor’s note: This article is from cybtc_com, authorized to be republished by Odaily Star Daily.

ETH is the second largest cryptocurrency in terms of market capitalization, and it also has a certain correlation with USDT. Currently, the price of ETH vs USDT is fluctuating around $0.004, but USDT has already surpassed Bitcoin. One of the sources of the obvious correlation between Ethereum price and ETH is its price trend. From a technical analysis perspective, if ETH has risen more than 20% since January, the bull market in 2020 should be utilized. However, according to data from eth.money, the ETH/USDT trading pair experienced significant growth on December 8th, with an increase of more than 15% in the past month, and the total trading volume of ETH has more than doubled. However, this has not affected the performance of USDT or whether ETH will fall below $0.1 again.

We can see that ETH has been on the rise recently and is still in an upward trend. Therefore, I think this is reasonable. ETH started to rise sharply last month, then fell all the way and eventually returned to around $0.025.

Although many people are familiar with ETH, it is not suitable as a store of value or just for investment. So I still have a positive outlook on ETH. The reason why ETH is ranked third in terms of market capitalization is because the Ethereum ecosystem is developing rapidly, and there are now many projects trying to use this network to implement their own decentralized applications, NFTs, and other DeFi functionalities, such as stablecoin protocol 0x, lending platform Synthetix, oracle solution Oracle, stable fee market, etc.

In addition, the decentralized exchange Uniswap on Ethereum has also announced that it will launch Ethereum 2.0 staking service in the near future. Users can lock their tokens for a period of time and then earn profits from this service.

Hayden Adams, the founder of Uniswap, said on Twitter that Uniswap V3 will be launched in about a week. He explained, “When you put your tokens in a smart contract, you need to send a message to the Ethereum Foundation and promise to provide liquidity and rewards for these tokens.” In addition, he also added, “As we enter the 2.0 stage, we will have more new products and services.” Another major change with ETH is that Ethereum developers are working hard to find new tools to bring faster development to the ETH community. The ETH codebase has been designed to be deployed on various chains and even integrated into any chain. (Note: The Ethereum 2.0 upgrade is expected to be completed by the end of September)