Tether stablecoin market capitalization nears $20 billion

The circulating market capitalization of Tether’s stablecoins (USDT) reached $19.4 billion. Messari data indicate.

The capitalization of the stablecoin USDC stands at $2.91 billion. The third-most popular stablecoin, DAI, sits at $1.08 billion.

Data: Messari.

Since 2019, the supply of USDT on Ethereum (ERC-20) has grown rapidly. The number of tokens on the Tron-based tokens is gradually increasing as well. In parallel, the supply of Tether on the Omni protocol, originally serving as the technological backbone of the stablecoin, is decreasing.

Data: Coin Metrics.

Since the start of the year, the circulating supply of USDT has grown 4.4-fold. At current capitalization, Tether ranks fourth in lists such as CoinMarketCap or CoinGecko, trailing only Bitcoin ($315 billion), Ethereum ($58.3 billion) and XRP ($24 billion).

The total market capitalization of popular stablecoins stands at nearly $25 billion — about 4.85% of the total cryptoasset market capitalization ($515 billion, according to CoinGecko).

In September, Tether’s market capitalization surpassed $15 billion.

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