Stablecoin Tether’s Market Capitalization Nears Record High of $83B

“When information about limitless help for financial institution deposits made the rounds, bitcoin costs exploded from $20,000 to $28,000 inside a matter of days,” mentioned Thielen in a observe to purchasers on Thursday. “However it could seem that holders of USDC both transformed their Circle stablecoin into Tether’s USDT or that they merely bought $10 billion of USDC and purchased bitcoin as an alternative.”