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Tether Market Cap Hits $28B as Stablecoins on Exchanges Reach A New High

Sara Zhang

Summary: Bitfinex and Tether CTO, Paolo Ardoino had announced a milestone in a tweet that Tether market cap hits $28 billion. According to data provider CryptoQuant, the stablecoins reserves on exchanges recently hit $7.2 billion as BTC rallied. Meanwhile, the total stablecoins market capitalization is currently estimated to be around $40.2 billion. Tether has been leading in ...

Bitfinex and Tether CTO, Paolo Ardoino had announced a milestone in a tweet that Tether market cap hits $28 billion. According to data provider CryptoQuant, the stablecoins reserves on exchanges recently hit $7.2 billion as BTC rallied. Meanwhile, the total stablecoins market capitalization is currently estimated to be around $40.2 billion. Tether has been leading in terms of market capitalization and has also been dominating in terms of trading volume. Data from CoinGecko suggested that stablecoins trading volume had hit $91.8 billion and USDT alone made up for $88.3 billion of this volume.

by Sara Zhang

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