Tether Crosses $10B Leaving Competing Stablecoins in the Dust

140 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

angelofshadow
Published
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. 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 player in the stablecoin sector — currently ranking fourth among stablecoins with a market cap of nearly $166 million. Binance has grown by more than 875% since representing roughly $17 million at the start of the year, now ranking as the 49th-largest crypto market. After starting the year with a capitalization of $225 million, Paxos Standard ( PAX ), the third-ranked stablecoin by market cap, has seen its market cap stagnate at $245 million since April, according to CoinMarketCap . CoinMarketCap ranks Paxos as the 37th-largest crypto asset overall. However, the data may not take into account PAX that have been issued on the Ontology blockchain since April. TrueUSD ( TUSD ) has actually posted a drop in market cap since the year —  falling from $155 million to $144.5 million as of this writing. TUSD is the fifth-largest stablecoin and the 55th-ranked crypto asset by capitalization.


All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/tether-crosses-10b-leaving-competing-stablecoins-in-the-dust


#market #stellarcoin #bitcoinlocations #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange
Category
Crypto Trading
Tags
Be the first to comment