The Solana (SOL) blockchain is the seventh blockchain to add USDT support, after Bitcoin (BTC), Ethereum (ETH), EOS (EOS), Tron (TRX), Algorand (ALGO), and Binance Smart Chain.
Tether has launched its USDT stablecoin on the Solana blockchain. Thus, the most popular stablecoin can be used on the Solana network. Tether is currently the fourth largest cryptocurrency with a total market cap of $ 37 billion.
Although Tether is supported by seven different blockchains, it is mostly used in the Ethereum network. Ethereum has been experiencing difficulties recently due to high transaction fees. For this reason, the number of users who switch to other blockchains is not at all. This caused Tether to issue more USDT on other blockchains.
Tether said in his statement that the Solana integration will enable USDT transactions for as little as $ 0.00001, which is thousands of times lower than the Ethereum network.