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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/tether-launches-recovery-tool-for-stablecoin-transfers-across-blockchains/" data-wpel-link="internal">Tether Launches Recovery Tool for Stablecoin Transfers Across Blockchains</a> 
Major stablecoin issuer Tether has launched a recovery tool to transfer Tether across different blockchain ecosystems, during a period when <a href="https://coin-turk.com/sicak-gelisme-tether-usdt-herkesi-ilgilendiren-onemli-bir-duyuru-paylasti" data-wpel-link="internal">USDT</a> reached a market value of 100 billion dollars. On March 4th, Tether announced the initiation of a blockchain recovery plan to ensure stable access to USDT in the event of disruptions on any of the multiple blockchain networks used for USDT transactions. 
<h2 class="p2" style="text-align: justify" id="a-noteworthy-move-from-the-tether-team">A Noteworthy Move from the Tether Team</h2> 
According to Tether’s data, as of March 4th, USDT is part of 14 blockchain ecosystems including <a href="https://coin-turk.com/tron-kurucusu-iddialari-yalanladi-trx-once-yukseldi-sonra-dustu" data-wpel-link="internal">Tron</a>, <a href="https://en.coin-turk.com/whale-activity-shifts-from-bitcoin-to-ethereum/" data-wpel-link="internal">Ethereum</a>, Solana, <a href="https://en.coin-turk.com/avalanche-avax-experiences-significant-growth-in-traderjoe-dex/" data-wpel-link="internal">Avalanche</a>, and Omni. Tron and Ethereum are the two largest blockchain ecosystems for USDT, holding 51% and 43% of all issued USDT respectively. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-323284 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/tether-1.webp" alt="" width="782" height="563"> 
Despite Tether’s significant reliance on blockchain ecosystems like Tron and Ethereum, the latest announcement emphasized that USDT exists independently of blockchain networks, which are used solely as a transport layer. 
To address the risk of a blockchain network becoming unresponsive, unreliable, or unusable, Tether created an official recovery tool that allows users to transfer USDT between blockchain networks. The team stated the following regarding the issue: 
<blockquote> 
 “Users will be able to verify ownership of their addresses on a non-responsive blockchain network and a recipient address on another supported blockchain network, and Tether will transfer the USDT between them.” 
</blockquote> 
According to the announcement, affected USDT users will be able to initiate the transfer process using a web interface or command-line tools. The process involves cryptographically signing a transition request to verify ownership of Tether assets, which can be used with browser extension wallets like MetaMask and hardware wallets such as Ledger or Trezor. 
<h2 class="p2" style="text-align: justify" id="a-significant-milestone-for-tether">A Significant Milestone for Tether</h2> 
The launch of Tether’s recovery tool coincides with a significant milestone for USDT’s market value, which reached 100 billion dollars for the first time on March 4th. According to CoinGecko’s data, USDT is the third-largest cryptocurrency by market value, following 1.4 trillion dollars worth of <a href="https://coin-turk.com/kripto-para-cuzdaninin-kurucusundan-300-milyonluk-vurgun" data-wpel-link="internal">Bitcoin</a> and Ethereum valued at 442 billion dollars. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-323283 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/gunluk-hacim.webp" alt="" width="1146" height="247"> 
Moreover, USDT is the largest cryptocurrency by daily transaction volume, with 132 billion dollars worth of crypto trading and transactions conducted using USDT as of March 5th. Daily transactions for <a href="https://en.coin-turk.com/bitcoin-2024-price-prediction-what-does-chatgpt-say/" data-wpel-link="internal">Bitcoin</a> and Ethereum follow with 82 billion dollars and 33 billion dollars respectively. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/tether-launches-recovery-tool-for-stablecoin-transfers-across-blockchains/" data-wpel-link="internal">Tether Launches Recovery Tool for Stablecoin Transfers Across Blockchains</a></h5>

Tether Launches Recovery Tool for Stablecoin Transfers Across Blockchains

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