Tether capitalization exceeds $15 billion

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The number of issued USDT stablecoins exceeded 15.1 billion. Their number barely exceeded 4 billion just a year ago.

The market capitalization of the stablecoin Tether reaches $15 billion. According to CoinMarketCap, there are currently 15.11 billion USDT coins issued.

Tether is the most popular stablecoin used by investors and market participants as an equivalent of the US dollar. USDT is listed on the most popular cryptocurrency exchanges and is traded in pairs to the most popular cryptocurrencies such as Bitcoin, Ethereum, etc. USDT is the consistent leader in the CoinMarketCap rating by daily trading volume. Over the past 24 hours, the traded volume of USDT exceeded $54 billion, while its closest competitor, bitcoin, boasts only $27 billion in daily trading volume.

For a long time, the emission of Tether was within the limits of several million, but in 2017, against the background of the growing demand for cryptocurrencies and surging activity on cryptocurrency exchanges, Tether emitted $1.2 billion in USDT.

Over the past year, the number of issued stablecoins has more than tripled. In September 2019, the capitalization of Tether was just over $4 billion, now it is over $15.1 billion.

The issuance of USDT usually occurs in response to the growing demand for coins from market speculators and other traders on crypto exchanges and trading platforms.

But some experts fear that Tether does not have sufficient deposits in US dollars to back such a huge number of issued stablecoins, which means there is a high risk that in case of a massive sale of USDT, the coin rate will collapse, triggering a fall of the entire cryptocurrency market.

Via: 2Coinfox.info

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