Tether.to, the blockchain-enabled platform that powers the tether (USDt) stablecoin, has risen above USD10 billion in market capitalisation.The importance of tether (USDt) is growing as the stablecoin performs an increasingly vital function within the digital asset ecosystem. While USDt continues to play a pivotal role in the trading of digital assets, crypto’s reserve currency is also being increasingly used in remittances and innovative projects in the digital asset space, including decentralised finance (DeFi).
“Tether’s success today will in the future be looked upon as a forbearer for crypto’s emergence as a major asset class,” says Paolo Ardoino, CTO at Tether. “The market has spoken. People trust tether and like using crypto’s preeminent stablecoin. We’re proud that tether has breached the US$10 billion mark with USDt manifestly so well supported within the digital asset ecosystem.”
USDt’s total market capitalisation has mushroomed five-fold from about US$2 billion in February 2019 to reach US$10 billion. Tether works across a diversity of different blockchains, including Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. Tether is driven to support and empower growing ventures and innovation in the blockchain space.
