Summary
TLDR: Bitcoin reached an all-time market cap high, while Tether’s USDT stablecoin also hit a record with over 100 billion in circulation. Tether’s CEO praised the achievement, highlighting the trust and confidence customers have in the stablecoin. Despite criticism, Tether remains stable and is one of the top five cryptocurrencies to reach the $100 billion mark.
Key Points
1. Monday marked an all-time market cap high for bitcoin, thanks to its near record high price and 27 months of fresh supply issuance since the last cycle’s peak.
2. Tether’s USDT stablecoin reached a circulating supply of 100,044,694,548 tethers, surpassing the market cap of Circle’s USDC by more than 3.4 times.
3. Tether continues to be a key player in the crypto market, dominating trading liquidity on exchanges and reaching the $100 billion market cap milestone, joining the ranks of bitcoin, ether, BNB, and XRP.