In a significant market development, Coinbase Pro announced on April 23 the integration of Tether (USDT) trading pairs. This marks a strategic pivot for the platform, which previously exclusively promoted its native stablecoin, USD Coin (USDC).
Key Details of the USDT Listing
- Availability: USDT trading is live across all Coinbase Pro-supported jurisdictions except New York.
- Technical Standard: Only Ethereum-based ERC-20 USDT is supported.
Trading Pairs:
- BTC/USDT
- ETH/USDT
- USDT/EUR
- USDT/GBP
- USDT/USD
- USDT/USDC
- Launch Timeline: Trading commences after 6 PM PT on April 26, contingent on liquidity conditions.
👉 Explore USDT trading strategies on Coinbase Pro
"Inbound transfers for USDT are now active in supported regions. Orders will open after liquidity checks post-6 PM PT on April 26."
— Coinbase Pro (April 22, 2021)
Tether’s Meteoric Supply Growth
Tether’s circulating supply approaches 50 billion USDT, with current figures at 49.58 billion (per Tether’s Transparency Report):
| Network | USDT Supply (Billion) |
|---------------|-----------------------|
| Ethereum | 24.4 |
| Tron | 25.1 |
- 2021 Growth: USDT supply surged 137% year-to-date, reflecting booming DeFi demand.
Competitor Comparison:
- USDC: 13.4 billion (244% growth)
- BUSD: 7 billion (600% growth, driven by Binance Smart Chain)
Market Context: Crypto Correction Intensifies
The broader crypto market faces a 20% decline from its $2.3 trillion peak (April 16), with **$280 billion exiting** within 24 hours:
- Bitcoin: Dropped 9.4%, breaching $50K for the first time since March 7.
- Trend Warning: Lower lows signal potential prolonged bearish momentum.
FAQs
Q: Why did Coinbase Pro list USDT after favoring USDC?
A: To cater to trader demand for diversified stablecoin options, especially in DeFi and cross-exchange arbitrage.
Q: Is USDT available on standard Coinbase?
A: Not yet—USDT remains exclusive to Coinbase Pro for institutional/professional traders.
Q: What drives Tether’s supply growth?
A: Primarily DeFi liquidity pools, exchange margin trading, and hedging against crypto volatility.
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