Tether's stablecoin , USDT, has reached a record market capitalization of $120 billion, indicating a potential rebound in the cryptocurrency market.
As the world's largest stablecoin, reaching this milestone is a positive indicator for investors.
A growing supply may signal an upcoming cryptocurrency rally.
This increase in USDT supply could be a catalyst for the next bitcoin rally.
In August, after Bitcoin hit a five-month low of $49,500, Tether issued 1.3 billion USDT and in five days, the cryptocurrency experienced a 21% growth to trade at $60,271.