A record for the highest stablecoin comes when Bitcoin consolidates around its own all-time high levels.
Tether (USDT), the largest stablecoin crypt currency, has exceeded a market capitalization of $20 billion for the first time.
According to data confirmed by the company on December 18, Tether is now an asset of $20 billion, and is the fourth largest crypto currency by market cap.
Tether’s market capitalization has doubled since September
„Tether’s market capitalization just topped $20 billion,“ says an official Twitter update.
„This fantastic milestone is another confirmation that Tether maintains its number one position as the most liquid, stable and reliable currency!“
Tether’s market capitalization has been increasing at an almost record pace over the last quarter, passing $10 billion just three months ago.
„BAM!“ CTO Paolo Ardoino responded to the news.
The regular issuance of new tokens has proven controversial in the past, as some researchers claim that it artificially drives the growth of Bitcoin Investor Scam prices (BTC) instead of just providing liquidity incentives. The ongoing legal problems for iFinex, owner of Tether and the Bitfinex exchange, have raised suspicions.
However, the appetite for Tether as an entry and exit point for other DeFi cryptosystems and tokens has only accelerated this year, making USDT the stablecoin asset of choice.