Tether's Market Value Exceeds $ 50 Billion

The market cap of the leading stablecoin Tether (USDT) continues to increase.

Leading stablecoin Tether has crossed the $ 50 Billion limit. The stablecoin, which showed an incredible growth as of 2020, continues to grow in 2021.

Tether's market value, which was $ 4 billion in March 2020, has since grown by 1250% in just one year. The company announced this news to investors with a post on the social media platform Twitter.

The company claims that Tether is being used more in innovative projects in the digital currency ecosystem, including decentralized finance (DeFi).

Although Algorand is found in many networks, including Bitcoin Cash's Simple Ledger Protocol (SLP), EOS, Liquid Network, Omni, Tron and Solana, Tether, which is predominantly on Ethereum and Tron, stands out as the fifth largest cryptocurrency by market cap. it turns out. Standing out as the fifth cryptocurrency with the largest market capitalization after XRP, Tether continues to dominate the stablecoin market.

While Tether's closest competitor, USDC, has a market capitalization of $ 11.2 Billion, the decentralized stablecoin DAI stands out with a market cap of close to $ 3.6 Billion.

Tether, which toppled $ 20 billion in late 2020 and exceeded the $ 50 billion threshold in 2021, is also the leader of the market in terms of volume. USDT continues to lead its role as the reference stablecoin in the cryptocurrency industry. Tether, which is accepted as the base currency in many exchanges, can be defined as one of the most important actors of the crypto money market.

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