Tether’s market cap hits $50B as stablecoin adoption grows

Tether’s market cap hits $50B as stablecoin adoption grows

The 50 billionth USDT token has been minted, Tether has confirmed. The market capitalization of Tether (USDT), the world’s largest stablecoin, zipped past $50 billion on Monday, in a sign that the cryptocurrency bull market was still heating up. Tether Operations Limited confirmed the milestone on Friday, with roughly 50 billion USDT now reported to be in circulation. Tether’s supply, and hence its market cap, has grown by more than a factor of 10 over the last 12 months. That includes 25% growth in the span of a month. As a dollar-backed stablecoin, one USDT is equivalent to $1 in assets....


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