Coin Metrics has made a new research on fixedcoins in the cryptocurrency world. The research includes important information about Tether, Paxos, USDC, TrueUSD, Gemini Dollar, HUSD, Binance USD, and USDK.
Coin Metrics examined how hardcoins are used, how intensely, and by a large audience. Research shows that fixedcoins are actually controlled by a very small mass.
If a fixed mass controls a large part of the total supply of a fixed mass, this means that the fixed mass is not used by a large audience. The widespread spread of this supply shows that the fixedcoin is used in many different exchanges by many different people.
According to the research of Coin Metrics, Ethereum based version of USDT outperforms its competitors at this point. We can see that USDT is used by a much larger mass compared to other fixed coins. Meanwhile, more than 80% of the total supply of fixed coins such as Gemini Dollar, Binance USD, USDT (Tron based), USDK and HUSD are controlled by only 6 addresses.
Who Uses It?
In his research on the subject, Coin Metrics also examined the differences in usage between fixedcoins. Here, how many transactions are done with which fixedcoin and how many different addresses are made are examined.
As can be expected; If most of the transactions with a fixed code come out