- The stablecoin of Tether (USDT) now has its very own Twitter emoji
- Tether (USDT) joins Bitcoin, Tron, Binance Coin and Crypto.com Coin with the new feature
- The supply of Tether (USDT) is showing signs of entering a plateau phase as demand for stablecoins slows down with a weakened crypto market
The stablecoin of Tether (USDT) now has its very own Twitter emoji. This milestone was first announced by the CTO of Bitfinex and Tether, Paolo Ardoino, through the following tweet.
Is it me or twitter just added @Tether_to icon? pic.twitter.com/Ot7Dx1Euh7
— Paolo Ardoino (@paoloardoino) June 25, 2021
Tether Emoji Includes Several Hashtags
The Founder and CEO of Tron (TRX), Justin Sun, went on to share the new emoji via Twitter using several hashtags to highlight that it was not limited to #Tether.
Mr. Sun’s tweet, which can be found below, shows that the new Tether emoji also works with #TRC20USDT and #USDTether hashtags.
— Justin Sun 🅣🌞 (@justinsuntron) June 25, 2021
Tether Joins Bitcoin, Tron, Binance and Crypto.com Coin
With the new Tether emoji, USDT joins the following digital assets and projects that have similar icons on Twitter.
- Bitcoin (BTC)
- Tron (TRX)
- Binance Coin (BNB)
- Crypto.com Coin (CRB)
Tether’s Supply and Market Cap Enters a Plateau Phase
With respect to market capitalization, Tether (USDT) continues to hold on to the number three spot with a market cap of $62.92 Billion. Tether’s market cap is roughly $20 Billion ahead of both Binance Coin and Cardano at $44.8 Billion and $42 Billion respectively.
To note is that the market cap of Tether (USDT) has more or less entered a plateau phase in late May as seen in the following chart courtesy of Coingecko.com.
From the chart, it can be observed that Tether’s market cap has more or else stayed the same since around mid-May when Bitcoin and several other digital assets, experienced new all-time high values. This, in turn, translates to a drop in demand for Tether by traders using USDT as a fiat onramp to buy Bitcoin, Ethereum and other digital assets.
To note is that Tether’s market cap has experienced similar plateau phases after the 2017 and 2019 bull markets. Therefore, if its market cap remains the same or starts to drop, it would confirm that Bitcoin and the crypto markets have entered a correction phase that will abate once USDT’s market cap starts to increase again.