Tether (USDT), the world’s most liquid stablecoin, surpassed $40 billion in market capitalization on Wednesday, highlighting the rapid growth of cryptocurrency investing over the past year.
At its highest point Wednesday, Tether’s market cap reached $40.1 billion, according to CoinGecko, making it the fourth-largest digital asset behind Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB).
In terms of stablecoin rankings, Tether is four times larger than the USD Coin (USDC), which has a market cap of around $10 billion. USDT dominance is currently around 67%, according to Messari.
Tether’s market capitalization has grown by a factor of ten over the past 12 months, reflecting remarkable growth in the cryptocurrency market. The total crypto market cap surpassed $1 trillion in January for the first time before hitting $1.8 trillion earlier this month.Tether has just surpassed a $40B market cap! In March 2020, Tether’s market cap was $4 billion! Since then, we’ve seen 900% growth in only one year! Stay up to date on our official Telegram channel ⬇️https://t.co/137b5oOauU pic.twitter.com/DTZ0aO8Cm0— Tether (@Tether_to) March 24, 2021
USDT isTitle: Tether market cap surpasses $40B, growing 10x over 12 months
Sourced From: cointelegraph.com/news/tether-market-cap-surpasses-40b-growing-10x-over-12-months
Published Date: Wed, 24 Mar 2021 17:15:00 +0000