Market capitalization of US-dollar fixed-price crypto-money Tether (USDT) for the first time has exceeded the $ 3 billion limit
According to the CoinMarketCap data, Tether now has a market capitalization of $ 3 billion 70 million ] The graph of Tether's market capitalization, source: CoinMarketCap
Recently, Tether's name came up frequently with discrediting claims. The Chief Public Prosecutor's Office of New York accused Bitfinex of $ 850 million of customer funding shortage by using Tether's reserves. It was later revealed that Tether was not supported by the United States at 100%, but by 74%, as alleged.
However, the claims did not have a significant impact on Tether's price, even though the reputation was debilitating, and did not stop its growth. Fixed-price crypto money is still heavily used on crypto money exchanges. The most traded crypto currency in the last 24 hours after Bitcoin is USDT. Bitcoin's transaction volume is $ 22.8 billion, while USDT stands at $ 19.5 billion.
The USDT is used as an alternative to US Dollars when US dollars are not available.
Tether, launched in 2014, is a subsidiary of Bitfinex.