Crypto Analytics

Tether’s market cap is approaching $ 80 billion, with USDT representing 46% of the stablecoin economy – altcoins

This week, stablecoin giant Tether hit a market cap of around $ 78.2 billion, according to data. In the past 30 days, Tether’s market valuation has risen 5.6% and the stablecoin now represents 46% of the stablecoin economy of $ 168.3 billion.

Tether’s market cap is less than $ 2 billion away to hit $ 80 billion

On December 30, 2021 there are around 78.2 billion tethers (USDT) in circulation, according to coingecko.com’s best stablecoin by market capitalization statistics. According to Tether Limited’s transparency report submitted to the tether.to Web portal manages $ 78.5 billion in assets. Metrics show that Tether accounts for 3.35% of today’s crypto economy of $ 2.33 trillion and 46% of the stablecoin economy of $ 168.3 billion.

Tether has seen massive growth during its lifespan. For example, on September 13, 2015, Tether’s market cap was $ 451,600, and the jump to $ 78.2 billion is a whopping 17,327,227% increase in just over six years. The only stablecoin with a comparable market valuation is usd coin (USDC) at $ 42.1 billion, 9.7% more than last month. USDC represents 1.8% of its market cap of $ 2.33 trillion and is about 52.68%, or just over half, of Tether’s market valuation.

The two stablecoins combined represent 71.82% of the total stablecoin economy and about 5.15% of the crypto economy of $ 2.33 trillion. Four stablecoin logs in the top ten positions in stablecoin market valuations rose from 12.9% to 42.9%. The BUSD issued by Binance increased by 12.9%, the UST by Terra by 34.2%, the MIM by 30.9% and the FRAX by 42.9%.

The overall rating of Tether is 39% higher than that of BUSD, UST, MIM, and FRAX combined. Not only is Tether the largest stablecoin issued across multiple blockchains today, it also has the largest trading volume. The 24 hour volume of Tether is more than BTCthe daily volume of today at 52.8 billion US dollars in USDT acts. Bitcoin is less than half of that volume at $ 25.5 billion on Thursday.

What do you think of Tether’s market cap, which is approaching nearly $ 80 billion? Let us know what you think on this matter in the comments below.

Tether’s market cap is approaching $ 80 billion, with USDT representing 46% of the stablecoin economy – altcoins, Crypto Trading News

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.




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Source: Crypto News Austria

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