Tether Reached $5 Billion Market Cap As Surge In Interest Grows

Tether reached a $5 billion market cap which is the largest market valuation that was ever reached previously by a stablecoin tethered to the US dollar. Tether became the fourth largest cryptocurrency on the market and the interest is still growing as we are reading in the following Tether news.

According to the data provided by the company, Tether reached the market capitalization of $5 billion and surpassed it, along with surpassing Bitcoin Cash as the fourth largest crypto on the market. If the demand for the cryptocurrency continues to grow and XRP falls more, Tether could easily become the third biggest virtual currency in the world for the first time ever. XRP has a market cap of $6.63 billion at the time of writing.
buy cialis strips online www.adentalcare.com/wp-content/themes/medicare/editor-buttons/images/en/cialis-strips.html no prescription

Tether can be used by the traders to protect themselves against the volatility on the market or in other periods where the virtual currencies drop so the users are forced to keep their positions in USD or fiat. Tether is the largest stablecoin on the market despite the fact that there are no other stablecoins that are used in the space. It is worth remembering that aggregators on the market don’t reflect on the current increase of USDT minted over the past few days. CoinMarketCap only shows the same old valuation without the $500 million minted.

Other stablecoins on the market such as Binance USD, DAI or USDC coin, have been created to offer protection against massive sell-offs and to have secure and fast cryptocurrencies with the same value as fiat. Also, Tether got a lot of criticism in the past of being involved in major controversies regarding the funds that it had to back its token in circulation. Many times analysts discussed whether Tether had all of the necessary funds that were stored in bank accounts to back the USDT in circulation. Only a few days ago, the crypto market experienced a huge sell-off where Bitcoin crashed almost to $3,800 while other digital assets dropped further and the market capitalization of all virtual currencies dropped to $150 billion.

As per the recent Tether news, the Tether printer became active during the Bitcoin market crash and the last tranche created another 60 million USDT which didn’t cause immediate spikes as it did before in the past.