Tether

Messari: USDT stablecoin capitalization exceeded $ 10 billion

According to Messari, the capitalization of Tether’s USDT stablecoin exceeded $ 10 billion. In 2020, it more than doubled. Also this year, USDC and BUSD showed significant growth.

The excess capitalization of USDT $ 10 billion was reported by the analytical service Messari. At the same time, according to CoinMarketCap data, the Tether capitalization is $ 9.2 billion, and according to CoinGecko data – $ 9.6 billion. According to the Tether project website, the total capitalization of USDT tokens on six blockchains now stands at $ 9.791 billion, and another 162 million USDT are out of circulation, which is “not enough” to the specified milestone. 

Messari data source is unknown – perhaps the figure is based on the USDT exchange rate, which sometimes exceeds the nominal by a fraction of a per cent. However, a significant discrepancy in the token capitalization according to various resources is indicative.

In any case, at the moment, Tether is one of the three largest crypto assets by capitalization, second only to bitcoin and ether. Based on Messari data, the USDT capitalization growth since the beginning of the year amounted to 144% – as of January 1, it amounted to $ 4.1 billion. Circle’s stable cryptocurrency also showed significant growth. USDC capitalization increased from $ 450 million to $ 930 million.

However, the leader in terms of growth was the stablecoin Binance USD, launched by the cryptocurrency exchange of the same name. If at the beginning of the year, the capitalization of BUSD was $ 17 million, then at the time of publication it reached $ 165 million. This is almost tenfold growth.

Not all stable cryptocurrencies show significant growth. Thus, the capitalization of the PAX stablecoin since the beginning of the year has increased slightly – from $ 225 million to $ 245 million. But the capitalization of the TUSD stablecoin has even decreased slightly – from $ 155 million to $ 144.5 million.

A recent study supported by the University of California at Berkeley shows that the issue of stablecoins does not increase the price of BTC and other crypto assets.

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