Tether (USDT), a leading stablecoin, has seen its market capitalization surge to an unprecedented $84 billion, thanks to the ongoing cryptocurrency rally.
This week, Tether (USDT) set a new record by surpassing $84 billion in market capitalization, influenced by positive sentiments surrounding the anticipated launch of a Bitcoin spot ETF. The volatile market conditions, characterized by sharp price increases, resulted in the liquidation of numerous short derivative positions, prompting investors to seek refuge in Tether for its stability and to maintain liquidity in the unpredictable crypto market. As a result, Tether is poised for a promising fourth quarter.
In preparation for a change in leadership scheduled for December, Tether Holdings is positioning itself for a strong finish to the year. Paolo Ardoino, an Italian software
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First found on: Record-Breaking $84 Billion: Tether (USDT) Market Capitalization Soars
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