TETHER CAPITALIZATION CONSOLIDATED ABOVE 10 BILLION DOLLARS

Posted 24 July, 2020

The market capitalization of Tether (USDT) has again exceeded $ 10 billion. The day before, the issuer of the largest stablecoin issued an additional 120 million tokens pegged to the dollar at a 1: 1 ratio.

 

The Tether website gives a total USDT market supply of $ 10.07 billion. More than 6 billion coins are hosted on the Ethereum blockchain.

 

At the beginning of July, the analytical service Messari announced that Tether had reached a capitalization of $ 10.3 billion. However, the largest market aggregators at that time did not confirm that the psychological level of $ 10 billion had been exceeded. According to Coingecko, this happened on July 22.

 

In TrustNodes also reported another achievement Tether. The day before, the daily trading volume of this stablecoin exceeded that of Bitcoin. What happened was that suggested Ryan Watkins of Messari in the analytical report of the company in the second quarter. However, today Bitcoin has regained its leadership in this indicator.

 

 

According to Cryptocompare, over 60% of bitcoin transactions are in USDT. This also applies to other cryptocurrencies. The volume of trading paired with fiat is significantly inferior to similar indicators paired with Tether.

 

Recall that ConsenSys experts have calculated that 46.5% (~ $ 2.8 billion) of the total supply of the stablecoin Tether (USDT) on the Ethereum blockchain keeps the 100 largest users.

 

In June, the aggregate volume of transferable value in stablecoins exceeded that of bitcoin for the first time . The growing popularity of stablecoins has already raised concerns among the FATF.

 

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