These Addresses Manage Most of the Fixed Coins

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.

Wealth Distribution

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 of only a few different addresses, it means that very few people use it. These addresses are also generally under the control of the stock exchanges.

According to the research of Coin Metrics, the fixed-line Paxos (PAX), which is currently at the top in terms of address diversity. Under normal circumstances, this meant that Paxos was used by a much more diverse audience than other fixedcoins. But experts point to an interesting point here.

It is thought that Paxos has made a difference to its competitors, but the two most active addresses in the Paxos network belong to a chain of happiness called MMM BSC. According to the studies of Coin Metrics, 40% of the transactions made in the Paxos network today are in some way connected with this chain of happiness.

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