Tether Prints $1 Billion in Weeks – Trustnodes

Tether Prints $1 Billion in Weeks

0

Tether's market cap, October 2020

Tether has added to the market some $1 billion worth of tokenized dollars since last month, with its market cap now surpassing $16 billion.

Some $150 million was printed just this Tuesday, with the dollar pegged token continuing its march as it maintains third position among all cryptos, significantly surpassing XRP’s $11 billion market cap.

Tether stats, October 2020
Tether stats, October 2020

Ethereum continues to maintain the most USDT at some $10 billion which can be used in the decentralized finance (defi) space.

Tron is now holding some $4.5 billion, a significant rise in recent months presumably due to its low fees.

While the rest are not holding much, with USDT on bitcoin’s layer Omni remaining at some $1 billion for now more than a year.

This significant increase in just weeks of new USD tokens suggests there has been a rise in demand, perhaps out of China but this is globally used mainly on exchanges to enter and exit crypto markets or during trading.

The rate of printing has however accelerated and somewhat significantly as can be seen in the featured image, showing the free market is years ahead of providing a so called central bank digital currency while central banks remain still more words than action.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments