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.
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.
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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