show
show
Witnessing the digital breakthrough

Tether's Circulating Supply Increased to 5.3 Bln

18 March 2020 14:28, UTC
Tether's Circulating Supply Increased to 5.3 Bln
By Anna Martynova

Tether's largest stable coin by market capitalization (USDT) currently takes the fourth place in the crypto capitalization rating. Tether's circulating supply (USDT) exceeded $5.3 billion. Last Thursday, during the depreciation of bitcoin and other cryptocurrencies, Tether again performed as a key safe-haven asset in the crypto market. Investors converted risky assets into stablecoins.

The performance of some other stablecoins tied to fiat currencies also increased significantly. For example, USDC, the main competitor to Tether, increased its circulating supply by 31% from March 10-15. If Tether's circulating supply continues to grow at the same fast pace, it has every chance of becoming the third largest cryptocurrency after Bitcoin and Ethereum, bypassing XRP.

During the recent sale on the market, the price of XRP fell to $0.11. Cryptocurrency is currently trading at around $0.1428, with a capitalization of almost $6.3 billion.

Image courtesy of Happycoin.club



Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
Report a mistake