Tether market capitalization exceeds $10 billion for the first time ever - Messari
|- USDT may suppass Ethereum by market value.
- The stablecoin has left behind all the rivals.
According to the data provided by the cryptocurrency analytical service Messari, the market capitalization of dollar-pegged stablecoin Tether (USDT) reached $10.3 billion. Thus, since the beginning of the year, USDT's market value increased by 116% and ousted Ripple's XRP from the third place.
Other stable coins are significantly inferior to USDT in terms of market supply. The capitalization of the nearest rival, USDC, is registered at $927 million, PAX has a market value of $245 million, Binance USD (BUSD) - $166 million.
Meanwhile, the statistics provided by Messari, diverges from the numbers published by other various cryptocurrency data service providers like CoinGecko or CoinMarketCap, where a market capitalization of USDT is registered at $9.6 billion and $9.18 billion respectively.
According to Tether website, the total market supply of USDT is $9.79 billion. More than 6 billion coins are placed on the Ethereum blockchain.
The explosive growth of the USDT market supply brought the coin to the forth place in the global cryptocurrency rating by the end of April, while in May it moved to the third place, leaving Ripple's XRP behind.
The leading and the most popular stablecoin may continue marching forward and even overtake Ethereum (ETH) by market capitalization due to the high demand on the dollar-pegged coin, according to Bloomberg. Ether's capitalization is now exceeds $25 billion.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.