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Tether Outran Other Stablecoins, Surpassed $10B Milestone

By Chris Torres | July 1, 2020
Tether Outran Other Stablecoins, Surpassed $10B Milestone

Crypto market data aggregator Messari reportedly disclosed the insight regarding the market cap of major stablecoin Tether (USDT), crossing the $10 billion milestone for the first time. 

Specifically, Tether has joined the club of crypto coins having an eleven-figure capitalization, together with Bitcoin (BTC) and Ether (ETH).

Tether’s reported $10 billion market cap reportedly recorded a 144% surge regarding its year-to-date boost – with Tether total value stood at $4.1 billion at the beginning of this year. 

Nonetheless, data aggregators are reportedly in conflict on Tether’s capitalization, with CoinGecko and CoinMarketCap generated estimation of USDT’s market cap to reportedly be a bit above $9 billion. 

The second biggest stablecoin Circle’s USD Coin (USDC), market cap-wise, has reportedly also experienced a steep incline in value since the beginning of 2020, climbing from under $450 million to more than $930 million today.

USDC has reportedly undergone a gradual development ever since its release in October 2 years ago, to achieve its current rank of the 18th-largest crypto asset overall.

Since its introduction in September 2019, Binance’s USD stablecoin BUSD has reportedly stepped up in the process of securing the status of a major player in the stablecoin field – staying at the 4th position at the moment among stablecoins with an approximate market cap of $166 million.

Binance has reportedly had an 875% to its initial $17 million at the beginning of 2020, standing at the 49th on the list of crypto asset in the market.

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