Tether capitalization hits nearly $ 70 billion, up more than 1,500% in 532 days

Tether (USDT), the largest dollar-pegged stablecoin in the crypto economy, currently has a total market cap of $ 68.28 billion, up nearly 10% since June 12, 2021 to $ 63 billion.

In second place is USDC at $ 29.1 billion, followed by BUSD, which was issued by Binance (in partnership with Paxos) for $ 12.4 billion.

Top 4 stablecoins by market capitalization

According to the report, USDT has been issued on several major blockchains such as Ethereum, EOS, Algorand, Liquid, Tron, Omni Layer, Bitcoin Cash and most recently Solana. It will also be published soon on the Avalanche Network.

50% of the crypto transactions are exchanged for USDT

Coingecko’s statistics show that USDT is listed on 392 exchanges. Cryptocompare.com too shown that 58.29% of Bitcoin’s trading volume on Friday (September 10th) came from USDT.

Tether market capitalization from 2015 to date

48.50% of Ether’s transactions are exchanged for USDT and account for 62.03% of Cardan’s trading volume. Web sites aggregated show that USDT was $ 80.5 billion of the $ 160 billion worth of cryptocurrencies traded on Friday.

Stablecoins that have seen an increase in spending include Terrausd (UST), Trueusd (TUSD), Neutrino usd (USDN) and Frax (FRAX). No other stablecoin has seen such massive growth as USDT, as its market cap was just over $ 4.2 billion on March 27, 2020, and is up 1,549.9% in the past 532 days.

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