Tether Crosses $10B, Leaving Competing Stablecoins in the Dust

Tether Crosses $10B, Leaving Competing Stablecoins in the Dust


Crypto market data aggregator Messari reports that the market cap of leading stablecoin Tether (USDT) has surpassed $10 billion for the first time.

Alongside Bitcoin (BTC) and Ethereum (ETH), Tether is now one of three crypto assets with an eleven-figure capitalization. 

Tether’s reported $10 billion market cap comes after year-to-date growth of 144% — with Tether representing $4.1 billion at the start of 2020. 

However, data aggregators are at odds on Tether’s capitalization, with CoinGecko and CoinMarketCap estimating USDT’s market cap to be just over $9 billion. 

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USD Coin and Binance USD post strong growth

The second-largest stablecoin by market cap, Circle’s USD Coin (USDC) has also seen triple-digit growth since early January — increasing from less than $450 million to over $930 million today.

USDC has steadily grown since launching in October 2018 to currently comprise the 18th-largest crypto asset overall.

Since launching in September of last year, Binance’s USD stablecoin BUSD has quickly emerged as a major

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