Leading crypto market data analysis firm, Messari, reports that the market cap of renowned stablecoin Tether [USDT] surpasses $10 Bln for the very first time in history.
Tether’s reported $10 Bln market cap at year-to-date growth rate of 144% — with Tether representing $4.1 Bln at the starting of this year in 2020.
Moreover, data aggregators are at odds on Tether’s cap, with CoinGecko and CoinMarketCap estimating USDT’s market cap to be over $9 Bln.
Circle’s USD Coin And Binance USD Coin
The 2nd-largest stablecoin by market cap, Circle’s USD Coin [USDC] has also seen significant triple-digit growth since early January – increasing ever since from around $450 Mln to over $930 Mln today.
USDC has steadily grown since launching in October 2018 to currently comprise the 18th-largest crypto asset overall.
Since its earlier launch in Sept. of last year, Binance’s USD stablecoin BUSD has quickly emerged as a serious player within the stablecoin sector – presently ranking 4th among stablecoins with a market capitalisation of nearly $166 Mln.
Binance has grown by over 875% since representing roughly $17 Mln at the beginning of this year, now ranking at the 49th-largest cryptocurrency market.
PAX, TUSD Stablecoin
After starting the year with a cap of $225 Mln, Paxos Standard [PAX], the 3rd-ranked stablecoin by market cap, has seen its market cap ease at $245 Mln since April, consistent with CoinMarketCap.
CoinMarketCap ranks Paxos as the 37th-largest asset overall. However, the data might not take under consideration PAX that are issued on the Ontology blockchain since April.
TrueUSD [TUSD] has actually posted a drop by market capitalisation since the year – dropping from $155 Mln to $144.5 Mln as of this writing.
TUSD is the 5th-largest stablecoin and the 55th-ranked cryptocurrency asset by market cap.