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Tether (USDT) Surges With Massive Inflows, Closing In On Historic $120 Billion Market Cap Milestone

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Tether (USDT) Surges With Massive Inflows, Closing In On Historic $120 Billion Market Cap Milestone - NewsBTC

Quick Summary:

This growth has been largely driven by increased investments in the crypto industry since the beginning of the year, contributing to their adoption.  According to data from IntoTheBlock, the stablecoin market had a total market cap of $122 billion in October 2023.

Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains Naturally, most of this inflow has gone into Tether (USDT), pushing its market cap closer to an unprecedented $120 billion.

This growth has been largely due to USDT’s ability to maintain its value pegged to the U.S.dollar over the years, making it an attractive option for traders seeking stability amid market turbulence.  What Lies Ahead For Tether And Stablecoins?

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-22 @ 12:00:42 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 479 words

Reading Time: 3 minutes read

Sentences: 68 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22638739

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 4 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 14 hours ago

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Publisher ID: #102

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