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.