The Rise of Tether: An Unexpected Champion

In a stunning turn of events, Tether, known for being the world’s most popular stablecoin, has surpassed both Bitcoin and PayPal in daily average transfer value. Recent data reveals Tether’s 7-day average adjusted transfer value hit over $3.55 billion as of August 20. Let that sink in for a moment: more than a hefty slice of pepperoni pizza for everyone in your neighborhood!

Bitcoin and PayPal: The Old Guard

For context, Bitcoin’s reported daily transfer value stood at $2.94 billion, while the digital payment giant, PayPal, came in at the same figure. Is it a coincidence or a conspiracy that they are the same? We might never know, but it sure makes a great plot twist for crypto-movie night!

What’s Fueling Tether’s Growth?

One of the most significant drivers behind Tether’s impressive ascent is the flourishing world of DeFi (Decentralized Finance) and the increasing popularity of token swapping platforms like Uniswap. It’s like watching your favorite underdog team finally get the gold—only this time, it’s all digital and much less sweaty.

Supply Surge: Tether’s Unstoppable Growth

And while we’re cranking up the excitement, let’s talk growth. Tether’s supply has skyrocketed to over $13 billion this year—a jaw-dropping 225% increase since 2020 began. It seems everyone is all aboard the Tether train, leading to speculation that the supply could reach $20 billion before the year ends! Tether’s CTO, Paolo Ardoino, is aiming high, tweeting: “2020, the year of Tether.”

A Final Thought: Comparison Conundrums

As Tether continues to climb the ladder, some experts suggest that comparing its usage directly with PayPal might be like comparing apples to oranges—or maybe more like apples to your grandma’s secret chocolate cake. Much of Tether’s transactions are largely anonymous, while PayPal’s transfers are actively monitored and regulated. So, is it a fair comparison? Grab your popcorn, it’s still up for debate.