Binance Exchange switches to USDT ERC20 standard
Binance Cryptocurrency Exchange reported this Wednesday that the possibility of depositing/withdrawing funds in the USDT stablecoin will be unavailable on July 4 for approximately 30 minutes.
The company explains the need for a break in service by replacing the currently used deposit OMNI addresses with ERC20 addresses. ERC20 addresses will then be used by default.
Users will still be able to make deposits to OMNI addresses that were previously created. The output of USDT to OMNI addresses after the update will no longer be available.
"Cause: The number of people who use OMNI addresses is low. We are following user demand," said Binance CEO Changpen Zhao in his Twitter announcement today.
Previously, the growth of popularity of USDT based on Ethereum (ERC20) to USDT on the OMNI protocol was also reported by the technical director of Bitfinex Paolo Ardoino.
According to the information on the site Tether, the capitalization of USDT at blockchain Ethereum has already exceeded $1 billion to date.
What do you think, will ethereum rise in long term because of usdt? ( gas is using to sent usdt in ethereum)