Tether’s Market Cap Rises 1,500% in 500 Days – USDT Stablecoin Market Nears $70 Billion – Blockchain

The stablecoin Giant Tether is by far the largest dollar-pegged crypto asset in the crypto economy, and today the number of Tethers in circulation is approaching nearly $70 billion. 90 days ago, on June 12, 2021, the number of Tethers in circulation was around 63 billion tokens and the supply has increased by 9.99% since then.

The circulating Tether economy is approaching $70 billion, 1 billion Tethers minted on Solana

The largest stablecoin currently in terms of market valuation is Tether ( USDT ) and on Friday, September 10th, USDT According to the company's transparency, the company's market capitalization is $69.3 billion Balance website.

The figure is similar to most crypto market aggregation web portals that calculate the value of each coin market. Under USDT ’s market value is usd coin (USDC) at $29 billion and the Binance dollar-pegged token BUSD at $12.4 billion.

Loud USDT Transparency side, the token is issued on multiple blockchains and recently coin has been issued on Solana. The transparency page notes that there is Tether on Ethereum. EOS, Algorand, Liquid, Tron, Omni Layer, Bitcoin Cash and Solana. Tether will allegedly are also on the Avalanche (AVAX) network.

There is $33.8 billion authorized on Ethereum, while Solana has authorized $1.1 billion so far. 90 days ago the USDT There were around 63 billion in circulation and today there are over 69.3 million Tethers circulating in the crypto economy.

50% of today's crypto trades are exchanged with Tether

Data from Coineckos Stablecoin by market capitalization indicate that the leash ( USDT ) exists on 392 exchanges worldwide. Cryptocompare.com metrics show that when combined with Bitcoin ( BTC ), tether ( USDT ) represents 58.29% all trades on Friday.

48.50% from Etherum ( ETH ) Trades are exchanged with Tether and the stablecoin captures 62.03% from Cardanos (ADA) Share traded. Aggregation websites show that of the $160 billion in global crypto trading on Friday, Tether accounts for $80.5 billion of that volume.

Other stablecoins that have seen a notable increase in issuance include Terrausd (UST), Trueusd (TUSD), Neutrino usd (USDN), and Frax (FRAX). Nothing has increased in circulation as much as Tether USDT The market cap as of Friday, March 27, 2020 was just over $4.2 billion in value and 532 days at 1,549.9%.

What do you think about Tether's market cap growth approaching $70 billion today? Let us know your thoughts on this topic in the comments below.

Photo credits: Shutterstock, Pixabay, Wiki Commons, Tether,