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Tether surpasses $ 10 billion and overtakes other competing stable coins

July 1, 2020

The cryptocurrency market data aggregator Messari reports this The market capitalization of Tether (USDT), the leading stable coin, has exceeded USD 10 billion for the first time.

Together with Bitcoin (BTC) and Ethereum (ETH) Tether is now one of the three crypto assets with an 11-letter capitalization.

Tether’s $ 10 billion market cap follows a So far growth of 144% this year, of which Tether was $ 4.1 billion in early 2020.

Tether surpasses $ 10 billion and overtakes other competing stable coinsTether surpasses $ 10 billion and overtakes other competing stable coins

It is important to note that other data aggregators disagree with Tether’s capitalization, as CoinGecko and CoinMarketCap appreciate USDT market cap is just over $ 9 billion.

USD Coin and Binance USD show strong growth

The second largest stable coin by market cap, Circle’s USDcoin (USDC) has also seen three-digit growth since early Januaryfrom less than $ 450 million to more than $ 930 million today.

USDC It has been growing steadily since its launch in October 2018 until it is now the 18th largest crypto asset overall.

Since its launch in September last year BUSD, Binances USD Parity Stablecoin, has quickly become an important player in the stable coin sector and currently occupies the fourth place between stable coins with a Market capitalization of nearly $ 166 million.

Binance grew by more than 875% Having represented around $ 17 million earlier this year, it is now the 49th largest in the crypto market.

PAX and TUSD stagnate

After the beginning of the year with a capitalization of $ 225 million Paxos Standard (PAX), the third stable coin in the market capitalization ranking, has its Market capitalization has stagnated at $ 245 million since April, according to CoinMarketCap.

CoinMarketCap rates Paxos as the 37th largest crypto asset overall. However, The data may not take into account the PAXs issued on the Ontology blockchain since April.

TrueUSD (TUSD) saw a decrease in its market cap from $ 155 million to $ 144.5 million at the time of this writing.

TUSD is the fifth largest stable coin and the 55th crypto asset after capitalization.

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