KEY POINTS
Bitcoin non-fungible tokens (NFTs) are maintaining their momentum, securing the top spot in weekly sales.
With a market cap of $100 billion, USDT, the well-known stablecoin from Tether, has achieved a new high. This reflects a 9% increase since the start of the year, and a larger gap with its nearest rival, USD Coin (USDC).
USDT’s New Milestone
On March 4, USDT briefly reached the $100 billion mark, with its market capitalization fluctuating in response to the current price and circulating supply, as reported by CoinGecko. It maintains a significant lead in market capitalization, standing over $71 billion ahead of its nearest stablecoin competitor, USDC, issued by Circle.
Tether’s market capitalization places it alongside the British oil and gas corporation BP and slightly ahead of the e-commerce leader Shopify.
As per details on its website, Tether functions as a digital currency pegged to the US dollar’s value and is available on 14 different blockchains and protocols.
Tether’s Ranking
Ranked third in terms of market capitalization, Tether (USDT) follows Ether (ETH) and has emerged as a significant choice for cryptocurrency traders seeking a stable asset within the blockchain ecosystem.
On the other hand, Bitcoin’s price has increased by 50%. Last month, Bitcoin’s market cap exceeded $1 trillion for the first time in over two months, boosted by the ongoing demand for U.S. Bitcoin ETFs.
In the last month, the cryptocurrency market has rebounded, surpassing a market capitalization of $2 trillion.
