The market cap of tether, the world’s largest stablecoin, topped the $50 billion mark on Monday.
- Demand for USDT has been driven by institutions and corporates in 2021, which has seen the market cap grow by $29 billion since the start of the year.
- The market cap is greater than that of all rival stablecoins combined.
- Tether received a boost last week when the now publicly listed Coinbase announced it would allow “inbound transfers” for the stablecoin on its professional trading platform.
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