Tether prints $5 billion in 2 weeks! Tether prints $5 billion in 2 weeks and sees its marketcap shoot up $15 billion.
Tether now has overtaken the marketcap of well known global companies with this huge jump in USDT. It has overtake Ripple as well, which sits at $11 billion. The marketcap of USDT sits comfortably at $15 billion.
The big dog of Crypto, Bitcoin, meanwhile, is closing in on $200 billion, but take that number with a grain of salt as most trading volume is fake.
BCH is having some trouble over argument on how to fund development of the cryptocurrency.
In the DeFi world, YFI has entered the top 20 with its valuation around $1.2 billion in marketcap. This puts the crypto comfortably in first place for DeFi.
How does all of this marketcap get sustained? With Tether, of course. Trading is primarily done on exchanges or on exchanges where ETH is powering the code.
It is ironic to note that USDT is printing faster than the Federal Reserve, however. ETH alone holds nearly $10 billion in USDT trading, as much as tether’s total market cap just a few weeks ago.
Some might be asking why – the answer’s simple – USDT can be used to lend, borrow, and arbitrage against other stablecoins, in margin trading, and used in DeFi.
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