Tether capitalization approached $ 17 billion

by in Cryptocurrency News

Tether

The capitalization of the stablecoin Tether (USDT) at the end of this week came close to $ 17 billion.

The explosive growth in the market supply of digital currency began this year. Since January, USDT capitalization has more than quadrupled.

Many analysts believe that if the Tether team turns on the printing press and issues new tokens, then it is preparing for further growth in the value of bitcoin.

Back in January, one of the experts, Charles Edwards, tweeted that the crypto community should respond positively to the increase in the capitalization of the USDT stablecoin.

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Over the past three months, the digital currency supply has grown by more than $ 5 billion.

According to CryptoQuant CEO Ki Yang Joo, the November rally in BTC was the result of a sharp increase in capital inflows into stablecoins.

That trend was observed, back in October, but it took on a large-scale character in the first days of November. After that, the largest digital currency soared in value to its highest level since early January 2018.

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Many observers have repeatedly emphasized that investors enter bitcoin precisely through stablecoins. That is why Tether is systematically releasing new batches of tokens.