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Tether's market cap is growing at a near-record pace

Published 11/27/2020, 06:30 PM
Updated 11/29/2020, 08:40 PM
Tether's market cap is growing at a near-record pace

The market cap of Tether (USDT), a U.S. dollar-pegged stablecoin, has surged in recent weeks, potentially helping to fuel the recent Bitcoin (BTC) rally that drove prices to near all-time highs.

Paolo Ardoino, who serves as dual CTO to Bitfinex and Tether, tweeted Thursday that the supply of USDT increased by 1 billion over nine days, marking the second-fastest expansion in its history. The record was set on Sept. 4, 2020 when, over eight days, USDT's circulating supply increased by 1 billion.

Tether market cap by CoinMarketCap

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