[Analysis] Report: China dominates demand for Tether - Diar

China dominates demand for Tether ($USDT), with $16 billion received by exchanges in 2018 and 2019 already outpacing the year before at $10 billion. The U.S. lags far behind, with only 3% of on-chain movements coming from the States. Demand from Chinese exchanges in 2018 stood at 39% compared to year-to-date demand coming in at 60%. The cyclical nature of the demand for Tether points towards two conclusions: its actually being used by Chinese consumers and exchange volume is more meaningful than Bitwise's recent report indicates.