Tether’s (USDT) Market Cap Grew By $1B in 9 Days to Reach $19B

[sneakyboi]

Tether’s (USDT) Market Cap Grew By $1B in 9 Days to Reach $19B

According to Coinmarketcap, the market capitalization of the popular stablecoin of Tether (USDT) is now at $18.983 Billion. The market capitalization of Tether has been on a continuous climb since the beginning of 2020. The following chart courtesy of Coinmarketcap, further demonstrates this fact.

Tether’s market cap has increased through a series of steps over time. The time interval between these steps has shrunk as 2020 has progressed.

Learn more about the news here.

[vaysar]

The price of bitcoin has been on the rise lately, more and more people have come to the crypto industry and have used Tether when they get started on the market. Another reason for the capitalization of USDT is the rise in DeFi, which happened this summer. The higher the bitcoin price, the more Tether will be minted.

[masudginanjar]

1 Billion USD in 9 days for this rise in the USDT market is simply extraordinary and it is simply amazing.
Seeing this, I really feel amazed because whatever happens to this USDT is really very difficult to beat by other stbail coins.

For now, I really believe that USDT in coins is stable and I often arbitrate using USDT.

[Malam90]

1 Billion USD in 9 days for this rise in the USDT market is simply extraordinary and it is simply amazing.
Seeing this, I really feel amazed because whatever happens to this USDT is really very difficult to beat by other stbail coins.

For now, I really believe that USDT in coins is stable and I often arbitrate using USDT.

If you follow marketcap of USDT in coinmarketcap, you will see their marketcap has increased at tremendous speed. 1st january 2020, marketcap was $4.1B and today 30th November 2020 marketcap is $19B which is nearly 5x higher in the last 11 months. With the increase of Bitcoin price and DeFi emerged, increasing demand of exchange in USDT pair has pushed them to increase their supply of USDT and as a result it has entered on top 4 rank in coinmarketcap. I aslo use USDT in most of the cases.

This is the progress of regular interval.

Source of image: Paolo Ardoino (Twitter)

[IyemRoker]

With just a few days the USDT was able to increase its market so quickly. Oh My God !

I think everyone prefers USDT when compared to other stable coins and it was beyond my expectation when USDC was born with the ERC20 network.
Then this innovation from USDT created a new blockchain at TRC20, ERC20 and OMNI and this is the turning point of USDT and now the proof is true. Cool Man!

[saprakib]

1 Billion USD in 9 days for this rise in the USDT market is simply extraordinary and it is simply amazing.
Seeing this, I really feel amazed because whatever happens to this USDT is really very difficult to beat by other stbail coins.

For now, I really believe that USDT in coins is stable and I often arbitrate using USDT.

If you follow marketcap of USDT in coinmarketcap, you will see their marketcap has increased at tremendous speed. 1st january 2020, marketcap was $4.1B and today 30th November 2020 marketcap is $19B which is nearly 5x higher in the last 11 months. With the increase of Bitcoin price and DeFi emerged, increasing demand of exchange in USDT pair has pushed them to increase their supply of USDT and as a result it has entered on top 4 rank in coinmarketcap. I aslo use USDT in most of the cases.

This is the progress of regular interval.

Source of image: Paolo Ardoino (Twitter)

Its a huge going by USDT .They have lots of user with a huge amount of transaction .Everyone like to do trade on pair USDT .Myself always do transaction on USDT and love trade on USDT Pair .The chart pic given by moderator clearly shows how investor come with it .I think it will increase more as it is now .

[Malam90]

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It's because increasing demand of USDT to the traders in exchanges. To maintain supply market demand and supply equilibrium, they have to raise their tokens supply other wise market will face USDT shortage. Then people have to think other stable coins like BUSD, USDC.

[Cristiano]

1 billion in 9 days is a wonderful event for everyone.  No one thought it would happen.  I was surprised myself.  I never imagined I would see such a situation.  Currently USDT is in a good form.

[vaysar]

Today, the amount of USDC in circulation has exceeded 3 billion, having increased by almost 500% in 2020. The founders of the consortium are Circle and Coinbase, and the USDC stablecoin they created becomes a competitor to the widely recognized stablecoin Tether, which is pegged to the US dollar.