The market-leading stablecoin is being pulled to new heights in the slipstream of Bitcoin.
The market-leading Stablecoin Tether ( USDT ) has achieved a market capitalization of over US $ 20 billion for the first time.
As the stablecoin data on December 18 show, Tether is now worth $ 20 billion, which will further strengthen its position as the fourth largest cryptocurrency.
Tether doubled since September
„Tether has just cracked a market capitalization of US $ 20 billion,“ as the corresponding message on Twitter says. And further:
„This fantastic milestone is further confirmation that Tether has expanded its leading position as the cryptocurrency with the highest liquidity, stability and trustworthiness!“
The market capitalization of stablecoins has recently increased at a record pace , with the then record of 10 billion US dollars only broken three months ago.
Tether CTO Paolo Ardoino euphorically underscores the new record with a simple “BAM!” On Twitter
The steadily increasing creation of new currency units by Tether, the so-called „minting“, has repeatedly caused controversy in the past, as some market researchers fear that the Bitcoin ( BTC ) price will be artificially increased as a result. In addition, there are still allegations against iFinex, the company that operates both Tether and the Bitfinex crypto exchange, which is adding fuel to the fire.
The demand for tether is nonetheless unbroken, as the stablecoin is an important bridge to other cryptocurrencies and DeFi tokens. The USDT has now further expanded its market leadership among „stable value“ coins.