Tether is closing in on $100 billion as its market cap surpasses $80 billion for the first time since its inception in 2015.
The USD pegged token has now regained top three position, with it standing below just bitcoin and ethereum as the dollar goes crypto.
They’ve added $1 billion just recently as demand grows for crypto tokens, with the project now spread out among numerous blockchains:
Some $3 billion has been printed and has entered circulation since last month as can be seen in the featured image above.
Another circa $4 billion has been printed and is ready to enter circulation with it authorized but not yet issued.
That may suggest Tether expects considerable new demand for cryptos, including bitcoin, as in some jurisdictions and for some market makers, they enter crypto through USDt.
This coincides with bitcoin’s price rise to above $43,000 while ethereum has crossed $3,000.
Making this another sign that sentiment may potentially be turning to bullish as spring arrives, a season in which cryptos tend to do well.
Source: https://www.trustnodes.com/2022/03/24/tethers-market-cap-surpasses-80-billion-prints-1-billion