Quick take:
- The market capitalization of Tether (USDT) has just passed the $25 Billion mark
- $5 Billion of which was issued in the last month
- According to the Tether balance-sheet, the company has $25.139 Billion in total assets
- The use of USDT on Tron has seen a significant increment as Tether users avoid high fees on Ethereum
The market capitalization of the popular stablecoin of Tether (USDT) has just surpassed $25 billion. The team at Tether announce the milestone via the following statement on Twitter.
Tether has just surpassed a $25B market capitalization!
With $5B more in one month!
This fantastic milestone is another confirmation for Tether maintaining its number one spot as the most liquid, stable and trusted stablecoin!
A quick glance at the Tether balance sheet reveals that the parent company of the stablecoin currently has $25.139 Billion in total assets. Furthermore, the balance sheet provides the following breakdown of Tether issuance on the various blockchain networks.
- Omni – $1,335,000,000
- Ethereum – $14,720,022,414
- Tron – $9,394,464,753
- EOS – $40,251,000
- Liquid – $16,561,000
- Algorand – $4,000,010
- Simple Ledger Protocol – $6,000,983
It Might Take a While for Tether to Flippen Ethereum
A market capitalization of $25 Billion puts Tether (USDT) firmly in the number three spot on Coinmarketcap, ahead of Polkadot (DOT) and XRP. With respect to flippening Ethereum, roughly $122.6 Billion in market capitalization separate ETH and Tether.
This, in turn, means that it might take a longer time for Tether to take the number 2 spot from Ethereum as predicted by the team at Bloomberg last year. This is based on the fact that ETH is in the midst of a bull cycle accelerated by the launch of the CME Ethereum futures on the 8th of February.
Tether Users Prefer to use USDT on Tron than on Ethereum
In terms of user preference, the use of Tron based Tether (USDT) has surpassed that of USDT on the Ethereum network. This is according to a recent report by DappRadar that points out that the transaction count of USDT on Tron has surpassed Ethereum’s count for three weeks in a row.
According to the report, traders and investors are moving to USDT on Tron because ‘transactions cost a fraction of the fees required of trading on Ethereum’.