Tether's Market Value Exceeded 40 Billion Dollars!

Tether's market cap increased to $ 40.1 billion, making it the fourth largest cryptocurrency in market cap.

Tether's market value has exceeded 40 billion dollars. The market value of Tether (USDT), the world's most liquid stablecoin, rose to $ 40.1 billion on Thursday. Tether's market value reached $ 40.1 billion on March 25, according to data released by CoinGecko. With this increase, it became the fourth largest cryptocurrency in terms of market value, after Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB). Tether, which has a market value of about $ 10 billion in the Stabilcoin ranking, is four times larger than USD Coin (USDC). According to Messari's data, USDT's stablecoin market dominance is currently at 67 percent. The market cap of the cryptocurrency has doubled in the last 12 months, which has shown the extraordinary growth in the market. The total value of the cryptocurrency market surpassed $ 1 trillion for the first time in January and rose to $ 1.8 trillion as of March.

900 Percent Growth In A Year

Tether's market value was only $ 4 billion in March 2020. Cryptocurrency has grown by 900 percent in just a year. Reflecting the market's demand for cryptocurrencies, USDT is seen as a leading stablecoin. USDT is the base currency for cryptocurrency pairs on most major exchanges, including Bitfinex. On the other hand, the stablecoin has been the target of claims that it has not been fully indexed to the US dollar in the past few months. USDT's ties with Bitfinex have also been the target of criticism.