{"id":564771,"date":"2020-11-27T21:35:13","date_gmt":"2020-11-27T18:35:13","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564771"},"modified":"2020-11-27T21:35:13","modified_gmt":"2020-11-27T18:35:13","slug":"tethers-usdt-market-cap-grew-by-1b-in-9-days-to-reach-19b","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/tethers-usdt-market-cap-grew-by-1b-in-9-days-to-reach-19b\/","title":{"rendered":"Tether&#8217;s (USDT) Market Cap Grew By $1B in 9 Days to Reach $19B"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Tether&#8217;s market cap is now at $19 Billion<\/strong><\/li>\n<li><strong>It took 9 days for its market cap to gain from $18 Billion to $19 Billion<\/strong><\/li>\n<li><strong>Early 2020 found its market cap at $4 Billion and an increment of $1 Billion took close to a month<\/strong><\/li>\n<li><strong>XRP has regained its number 3 spot but Tether could once again reclaim the spot<\/strong><\/li>\n<li><strong>Tether could very well edge out Ethereum in 2021<\/strong><\/li>\n<\/ul>\n<p>According to <a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Coinmarketcap<\/a>, the market capitalization of the popular stablecoin of Tether (USDT) is now at $18.983 Billion. The market capitalization of Tether has been on a continuous climb since the beginning of 2020. The following chart courtesy of Coinmarketcap, further demonstrates this fact.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th.jpg\"><img class=\"aligncenter size-large wp-image-564772\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th-1024x505.jpg\" alt=\"\" width=\"1024\" height=\"505\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th-1024x505.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th-300x148.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th-770x380.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th-500x247.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th-240x118.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th-717x354.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/USDT-Market-Cap-Nov27th.jpg 1078w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>Tether&#8217;s Market Cap Grew By $1B in 9 Days to Reach $19B<\/h2>\n<p>As can be observed from the chart, Tether&#8217;s market cap has increased through a series of steps over time. The time interval between these steps has shrunk as 2020 has progressed.\u00a0<a href=\"https:\/\/en.ethereumworldnews.com\/bitfinex-cto-tether-is-not-bitcoin-btc-usdt-is-centralized\/\" target=\"_blank\" rel=\"noopener noreferrer\">Tether&#8217;s and Bitfinex&#8217;s CTO<\/a>, Paolo Ardoino, has summarized these increments via the following two-part Twitter thread. From his last entry, it can be observed that an increment of $1 Billion to reach $19 Billion in market cap was achieved in a record 9 days.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">13\/08\/20: 12 billion (12 days)<br \/>26\/08\/20: 13 billion (13 days)<br \/>4\/09\/20: 14 billion (8 days)<br \/>16\/09\/20: 15 billion (12 days)<br \/>22\/10\/20: 16 billion (36 days)<br \/>05\/11\/21: 17 billion (14 days)<br \/>17\/11\/20: 18 billion (13 days)<br \/>26\/11\/20: 19 billion (9 days)<\/p>\n<p>&mdash; Paolo Ardoino (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1332082582008307712?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">November 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<h2>XRP Reclaims Number 3 Spot, But Tether is Lurking<\/h2>\n<p>A quick look at the top 5 rankings on Coinmarketcap reveals that XRP has reclaimed its number 3 spot with its <a href=\"https:\/\/en.ethereumworldnews.com\/xrps-0-50-support-holds-amidst-crypto-market-selloff\/\" target=\"_blank\" rel=\"noopener noreferrer\">recent impressive rally<\/a>. However, only $5.6 Billion in market cap stands between XRP and Tether retaking the same number 3 spot. If Tether&#8217;s market cap continues to increase at its current rate, it will take USDT approximately 50 days to edge out XRP once again.<\/p>\n<figure id=\"attachment_564774\" aria-describedby=\"caption-attachment-564774\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th.jpg\"><img class=\"wp-image-564774 size-large\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th-1024x361.jpg\" alt=\"\" width=\"1024\" height=\"361\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th-1024x361.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th-300x106.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th-770x272.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th-500x176.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th-240x85.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th-717x253.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Top-5-CMC-Nov27th.jpg 1256w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><figcaption id=\"caption-attachment-564774\" class=\"wp-caption-text\">Source, Coinmarketcap.com<\/figcaption><\/figure>\n<h2>Ethereum Could Lose the Number 2 Spot to Tether (USDT) in 2021<\/h2>\n<p>Using the same rate of $1 Billion per 9 days, USDT could become a threat to Ethereum&#8217;s number 2 spot in approximately $350 days. This means that Tether (USDT) could edge out Ethereum from this position before the end of next year.<\/p>\n<p>Such a scenario had been <a href=\"https:\/\/en.ethereumworldnews.com\/report-expect-ethereum-to-lose-the-2-spot-to-tether-usdt-in-2021\/\" target=\"_blank\" rel=\"noopener noreferrer\">predicted by the team at Bloomberg<\/a> in their October 2020 crypto market report. According to the report, demand for USD like digital assets will increase Tether&#8217;s market cap beyond that of Ethereum.<\/p>\n<blockquote><p>Expect Bitcoin #1, Tether #2 in 2021 If Trends Remain the Same.<\/p>\n<p>Indicating demand for a digital version of gold (Bitcoin) and a crypto-asset like the dollar, if current trends prevail, the market cap of Tether may surpass Ethereum next year.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Tether&#8217;s market cap is now at $19 Billion It took 9 days for its market cap to gain from $18 Billion to $19 Billion Early 2020 found its market cap at $4 Billion and an increment of $1 Billion took close to a month XRP has regained its number 3 spot but Tether could once again reclaim the spot Tether could very well edge out Ethereum in 2021 According to Coinmarketcap, the market capitalization of the popular stablecoin [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":55115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[823,825],"tags":[353,1322,1811,6957],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564771"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=564771"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/55115"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=564771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=564771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=564771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}