U.Today - With the new release, USDT liquidity will be available to the community of Cosmos (ATOM), a pioneering cross-chain ecosystem. Its flagship network Kava (KAVA) recently underwent a major upgrade.
Tether (USDT) to go live on Cosmos' Kava (KAVA) blockchain
According to the official shared by the team of Tether Limited, the issuer of the largest stablecoin USDT, Kava (KAVA) is set to become the next addition to its list of supported blockchains. The first Kava-based USDT will be minted on July 3, 2023.In an annoucnement, the Tether (USDT) team stressed that Kava (KAVA) merges the most impressive benefits of the Ethereum Virtual Machine (EVM) with the speed, low transaction fees and interoperability of Cosmos SDK. A few weeks ago, the team of Kava (KAVA) rolled out the Kava 13 upgrade to give its throughput and speed a boost.
Paolo Ardoino, CTO at Tether, is excited by the new release and claims it will play a crucial role in USDT's progress and adoption for various liquidity solutions:
Previously, versions of USDT were launched on Ethereum (ETH), Solana (SOL), Algorand (ALGO), Eos (EOS), Tron (TRX), Near Protocol (NEAR) and Avalanche (AVAX) blockchains as well as on Liquid Network and Omni solutions.
Kava (KAVA) price registers double-digit pump amid USDT launch announcement
The large stake of USDT is issued on Tron (TRX) thanks to its low transaction fees: out of $83 billion in market cap, Tron (TRX) is responsible for $46 billion.The community of Kava (KAVA) is excited by such an announcement and stresses that it is the first time that USDT has come to the Cosmos (ATOM) ecosystem.
KAVA, a core native asset of Kava, reflects the community excitement: its price jumped from $0.82 to over $0.92 in a few hours. As such, KAVA outperforms major altcoins, printing double-digit gains.