Tether market cap surpasses $17B, fueling Bitcoin price rally
Bitcoin’s new highs come amid lots of new money pouring in via stablecoins. According to Tether’s official transparency data, the USDT market cap crossed a $17 billion mark for the first time, hitting over $17 billion in total assets.Tether’s market cap has been growing exponentially in 2020. As of mid-September, Tether’s market cap saw nearly a four-fold increase since the beginning of the year, surging above $15 billion from around $4 billion. According to data from crypto analytics firm Messari, USDT saw a notable increase from August 2020 to date. As such, USDT added more than $5....
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2020 has been the year of stablecoins, as the token supply has doubled in the last three months. The aggregate market capitalization of 28 stablecoins captures over $20 billion on October 4, 2020. While tether still dominates the stablecoin ranks, USDC has been moving closer toward the top ten crypto coins. USDC is also the only stablecoin with market capitalization greater than $1 billion other than tether. This year quite a bit of money has flown into the stablecoin economy and just recently all the stablecoin tokens in existence captured a $20 billion market valuation. This means all....
On Saturday, January 15, 2022, the market capitalization of all the stablecoins in existence is $173 billion, which represents 7.93% of the $2.18 trillion crypto-economy. The market valuations of stablecoins tether and usd coin represent 71.84% of the entire stablecoin economy’s value. This week, the current total supply of usd coin surpassed tether, in terms of tokens issued on the Ethereum blockchain, as usd coin has a 0.568% larger fully diluted market capitalization on the smart contract network.
USDC Issuance on Ethereum Surpasses Tether’s ERC20 Supply
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Crypto analysts are pushing back against the narrative that the current BTC rally is being fuelled by a liquidity crunch afflicting bitcoin mining pools in China. The liquidity crunch, which is caused by an ongoing regulatory crackdown in that country, has reportedly left miners unable to sell their BTC holdings. Miners Are Selling The analysts are instead backing a counter-narrative which points to institutional investor interest as the reason for the current BTC rally. Using data to support their assertions, the analysts suggest that the current bull run, which has different....
The price of Bitcoin has rallied to a new all-time high above $48,500 merely hours after it saw a large dip to around $43,800. Bitcoin rose by 11.2% in the last 21 hours, posting a strong V-shape recovery in a short period. What’s fueling the Bitcoin rally? There are three key factors behind the rally […]
SOL price reached another record high on Nov. 7, bringing its YTD gains up by roughly 17,500%. Solana (SOL) surpassed Cardano (ADA) and leading stablecoin Tether (USDT) to become the fourth-largest cryptocurrency by market capitalization.At press time, the net worth of total SOL tokens in circulation was a little over $76 billion, falling only behind Binance Coin's (BNB) $109 billion, Ether's (ETH) $540 billion, and Bitcoin's (BTC) $1.17 trillion. Top ten cryptocurrencies by market cap as of 1330 UTC, Nov. 7. Source: MessariMeanwhile, Cardano and Tether's market cap came out to be $66.39....