Advertisement
AD

Main navigation

More USDT Minted by Tether Treasury. Will It Surpass XRP?

Advertisement
Mon, 27/04/2020 - 19:19
More USDT Minted by Tether Treasury. Will It Surpass XRP?
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Stablecoin issuer Tether has minted 120 mln more USDT tokens for replenishing its inventory, according to the company’s CTO Paolo Ardoino.  

Advertisement

The circulating supply of the top stablecoin has already reached nearly $7.5 bln as more traders and investors flock to stablecoins. That means that it’s getting closer to trumping XRP whose market capitalization currently stands $8.6 bln, according to CoinMarketCap data. 

Related

USDT has already increased its market share by more than 120 percent in 2020. As reported by U.Today, more tokens are being issued due to the growing demand for fiat-pegged cryptocurrencies caused by the coronavirus turmoil.

While many critics believe that Tether is trying to prop up Bitcoin with its issuances, recent research concluded that stablecoins are not able to inflate cryptocurrency prices.

At press time, the BTC price is sitting at $7,720 during a relatively calm day.

Advertisement

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD