Tether is the most valuable stablecoin by market value. It is a leading household name in the fast-changing crypto market.
The latest development is that Tether treasury minted a whopping 400 million USDT, as seen on Whale Alert, an advanced blockchain tracker and analytic firm.
- “400,000,000 USDT (402,613,737 USD) minted at Tether Treasury.”
? ? ? ? ? ? ? ? ? ? 400,000,000 #USDT (402,613,737 USD) minted at Tether Treasury
— Whale Alert (@whale_alert) January 7, 2021
What you should know
At the time of writing this report, the stablecoin traded at $1.00 USD with a daily trading volume of $133.4 billion. Tether is down 0.16% for the day. It is presently the third most valuable crypto with a market value of $23.5 billion.
- Tether is designed as a blockchain-based cryptocurrency whose digital coins in circulation are backed by the same value of traditional fiat currencies like the U.S dollar, Japanese Yen, or the Euro. It trades under the ticker symbol USDT.
- Nairametrics had earlier outlined a report on the organic growth of Tether’s market capitalization, as one of the major reasons for the gain Bitcoin (BTC) is presently having in the mid-term.
- Interest in digital links to the dollar represents the need to handle and store value in the world’s reserve currency, without an intermediary.