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Tether Cryptocurrency market cap Crosses $17 billion

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Tether Cryptocurrency market cap Crosses $17 billion,

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According to Tether's official transparency data, the USDT market cap crossed the $ 17 billion mark for the first time, exceeding $ 17 billion in total assets.

Teether's market cap is growing rapidly in 2020. By mid-September, Teether's market cap saw a nearly four-fold increase from the beginning of the year, up from $ 15 billion to more than $ 4 billion.

According to data from crypto analytics firm Messari, USDT saw significant growth from August 2020 to date. For example, USDT added more than $ 5 billion to the market cap in the last three months.

Tether (USDT), the largest stable in the cryptocurrency market, is seeing large-scale inflows in its market capitalization, fueling the current bitcoin (BTC) price rally.

According to Ki Young-joo, CEO of crypto data platform Cryptocurrency, the latest crypto rally is being boosted by deposits in stablocks like USDT. On 5 November, he reported:

"Again, the price of $BTC Increased right after the number of fixed Cryptocurrency deposits increased."

Ki-Young-joo first drew attention to this correlation in October, noting that steady currency deposit inflows were "helpful in predicting BTC growth in late July."

Cryptocurrency data shows that new high highs in October 2020 have resulted in more than 60,000 transactions in stable 2020 transfer transactions. .

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NOVEMBER 05, 2020