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.
Leave a comment
Your email address will not be published. Required fields are marked *
