Tether Market Cap Surpasses $50 Bln - Market Analysis.

Tether Market Cap Surpasses $50 Bln - Market Analysis.

2021-04-26 | Mike Hallen

Tether Market Cap Surpasses $50 Bln - Market Analysis.

The market capitalization of Tether [USDT], the world’s largest stablecoin, topped the $50 Bln benchmarks earlier today on Monday. Demand for stablecoin has been driven by institutions and corporates within this year in 2021, which has seen the market cap grow by $29 Bln since the beginning of the year. The market cap is bigger than that of all rival stablecoins combined. Tether received a lift last week when the now publicly listed Coinbase announced it might permit “inbound transfers” for the stablecoin on its professional trading platform. The stablecoin has been dogged by controversy in recent years, with the Office of the NYAG [New York Attorney General] this year stating that USDT [0.00%] had not been fully backed by USD always.

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