Tether market cap surpasses $17 billion, fueling Bitcoin price rally

According to Tether’s official transparency data, the USDT market cap crossed a $17 billion mark for the first time, hitting over $17 billion in total assets.

Tether’s market cap has been growing exponentially in 2020. As of mid-September, Tether’s market cap had seen nearly a four-fold increase since the beginning of the year, surging above $15 billion from around $4 billion.

Stablecoin market capitalization. Source: Messari