Tether's market cap is growing at a near-record pace
Cointelegraph
Published Nov 27, 2020 06:30PM ET
Updated Nov 29, 2020 08:40PM ET
The market cap of Tether (USDT), a U.S. dollar-pegged stablecoin, has surged in recent weeks, potentially helping to fuel the recent Bitcoin (BTC) rally that drove prices to near all-time highs.
Paolo Ardoino, who serves as dual CTO to Bitfinex and Tether, tweeted Thursday that the supply of USDT increased by 1 billion over nine days, marking the second-fastest expansion in its history. The record was set on Sept. 4, 2020 when, over eight days, USDT's circulating supply increased by 1 billion.
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Written By: Cointelegraph
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