Weeks ago, NewsBTC reported that the market capitalization of leading crypto stablecoin Tether (USDT) was on track to $10 billion. This week, after a large minting of coins, the milestone was reached.
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According to Messari analyst Ryan Watkins, the market capitalization of USDT passed 10 billion on June 30th. It is the third cryptocurrency currently in this 10-figure range.”
At the start of the year, the market capitalization of the asset was closer to $4.5 billion. And at the start of 2019, the figure was well under $3 billion.
Chart of USDT’s market capitalization shared by Messari analyst Ryan Watkins, a former investment banker.
Some see USDT’s market cap growth as a sign of increasing interest in cryptocurrency.
Because USDT can be easily transacted into Bitcoin, Ethereum, and others, firms/large traders can theoretically