Tether Market Capitalization Reached $82.51B Surpassing USDC
Tether Market Capitalization reached over $80 Billion for the first time in the last 11 months. On April 05, the market capitalization of USDT reached $ 80.140 billion following the rising trend. On April 03, the market cap was $82.404, and the highest market capitalization recorded was $82.518 Billion. USDT is an asset-backed stablecoin issued by Tether, a Hong Kong-based company. The value of stablecoin always remains in the ratio of 1:1. According to White of Tether, for every stablecoin issued, a reserved asset is kept for every issued USDC. Pinagmulan: CoinMarketCap According to CoinMarketCap, at press time, the trading volume of USDT surpassed the 24-hour trading volume of Bitcoin. In a 24-hour trading session trading volume of Bitcoin is over $12 billion, and USDTs 24-hour trading volume is above $22 billion. The rising market capitalization is making a staircase pattern. CoinMarket ranked USDT third and its competitor USDC Coin is ranked fifth. At a point in time, market capitalization and market rank of USDT were below USD. At press time USD coin has a market capitalization of $32 billion. USDC‘s market capitalization is 60% less than USDT’s market capitalization. After the Silicon Valley Bank collapse, USDT cleared that it has no exposure with Silvergate, Signature Bank