Crypto “Reserve Currency,” Tether (USDT) Hits a $10 Billion Market Cap

Crypto “Reserve Currency,” Tether (USDT) Hits a $10 Billion Market Cap

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.

Related Reading: A Hacker Just Drained $500k in Ethereum & Altcoins From a DeFi App Crypto’s “Reserve Currency” Hits $10 Billion Market Cap

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.”

Trending: Trump Supporters Allegedly Set Guinness World Record at South Carolina Boat Rally

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

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Send this to a friend