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Against all odds, Tether's USDT has established itself as the main stablecoin in the crypto market. For the first time in its history, it has just exceeded a valuation of $ 10 billion.
The USDT is definitely doing very well. At the beginning of June, Tether's stablecoin even paid for the luxury of passing Ripple's XRP in terms of total capitalization, becoming the third most valued crypto behind Bitcoin and Ethereum.
Today is another symbolic record that the stablecoin backed by the US dollar has just crossed. The total value of USDT in circulation has reached $ 10.3 billion now!
Source: messari.io
To give an idea of the predominant position of the USDT on competition, be aware that its main rival, the USDC of Circle, has not quite reached the 1 billion $ of capitalization is 10 times less.
In green, the capitalization of Tether (USDT)
The controversies affecting the USDT - the manipulation suspicion of being Bitcoin - ultimately never really enamelled use. In fact, stablecoin has never even been used as much as it does today.
The USDT has made itself essential for traders / investors, in order to stabilize their gains in cryptocurrencies and protect themselves from market declines. Next objective: flippening with Ethereum to grab second place?
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