USDT Has Just Surpassed $9 Billion in Market Capitalization

Share Article
In Brief
  • Stablecoin Tether surpassed the $9 billion market cap milestone.

  • It also is jockeying for position with XRP for the third spot in the market cap rankings.

  • Tether Treasury printed another $200M USDT on Thursday.

  • promo

    Stake your points and qualify for the 200,000 USDT prize pool. Start staking now!

The Trust Project is an international consortium of news organizations building standards of transparency.

Tether (USDT) is now not only the third-largest cryptocurrency, but it also recently passed $9 billion in market capitalization—a milestone. Tether Treasury printed another $200M USDT on Thursday, which brings the total amount of USDT in circulation to above $9 billion.

Sponsored



Sponsored

Tether Treasury’s Transparency report will soon show the change. It was only in mid-April that Tether topped $7 billion in market capitalization for the first time. Now, it’s larger than Ripple’s XRP.

The surge in demand for USDT has been pinned on exchanges that have been hoarding more and more of the stablecoin than ever before. However, stablecoins beside USDT have not experienced a similar surge in demand.

Sponsored



Sponsored

Tether still remains marred in controversy over whether its USDT is backed 1:1 with USD. Many have likened Tether Treasury’s printing to the U.S. Federal Reserve.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.

Follow Author

Limited offer! Learn to mine and trade crypto today for free

Join

Earn up to $10,000 USD every week in CoinFLEX AMM+ Arena!

Earn Now

Be our Supreme Scorer and qualify for a grand prize pool of 200,000 USDT!

Join