USDT Market Cap Exceeds $10B For First Time
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The market cap of the stablecoin USDT has exceeded $10B, according to analysis portal Messari.

Since the beginning of the year, the USDT has grown by almost 150%, as the market cap of the stablecoin was $4B in January.

The second largest stablecoin in the market is the USD Coin, issued by Coinbase and Circle as part of the Centre consortium. Since the beginning of the year, its capitalization has grown from less than $450M to almost $1B.

The BUSD, the stablecoin issued by Binance, has also posted a rapid growth, however, it still cannot compete with more established alternatives in the market. Since the beginning of the year, its market capitalization has grown from $17M to $165M, an increase of 870%.

Therefore, the BUSD might surpass Paxos Standard (PAX), the third largest stablecoin in the market. At the beginning of the year, its market cap was 224 million, and it has only increased by $20M since then.

Former Messari executive Qiao Wang said:

"3 companies that, if something catastrophic happened to them today, would cause a tsunami in crypto markets: Silvergate (crypto banking), Tether (reserve currency of crypto), Genesis (primary venue of liquidity for crypto loans)."

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