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Tether Surpasses $10 Billion For The First Time

Tether, a leading stable coin, has surpassed  $10 billion for the first time according to Crypto market data aggregator Messari reports. 

Tether is now one of three crypto assets with an eleven-figure capitalization alongside Bitcoin (BTC) and Ethereum (ETH). 

Tether’s reported $10 billion market cap comes after year-to-date growth of 144% — with Tether representing $4.1 billion at the start of 2020, according to CoinTelegraph. 

According to the report, data aggregators are at odds on Tether’s capitalization, with CoinGecko and CoinMarketCap estimating USDT’s market cap to be just over $9 billion.

The second-largest stablecoin by market cap, Circle’s USD Coin (USDC) has also seen triple-digit growth since early January — increasing from less than $450 million to over $930 million today.

USDC has steadily grown since launching in October 2018 to currently comprise the 18th-largest crypto asset overall.

Since launching in September of last year, Binance’s USD stablecoin BUSD has quickly emerged as a major player in the stablecoin sector — currently ranking fourth among stablecoins with a market cap of nearly $166 million.

Binance has grown by more than 875% since representing roughly $17 million at the start of the year, now ranking as the 49th-largest crypto market.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.