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Tether USDT supply increases to $4

Published: December 4, 2023

Written by:barnaby

Tether’s USDT supply is on the move as Bitcoin pumps.

Tether’s USDT supply has increased by an impressive $4.5 billion within the span of 30 days. The stablecoin pegged to the US dollar serves as a safe haven for investors during crypto instability or a secure crypto token to hold to keep funds stable.

This increase in supply indicates that more traders are turning to USDT as a means of preserving capital and facilitating transactions without the need to exit the crypto ecosystem.

After Bitcoin made its run up to and over $38,000 Tether’s market cap rose to a new all-time high of $89 billion.

Stable coins have become a staple in the cryptocurrency market with USDT and USDC leading with billions in market cap.

Despite Terra Luna’s stablecoin collapsing and dragging the rest of the Terra Luna ecosystem down with it back in 2022, crypto traders have not shied away from the risks that stablecoins can be prone to.

Recently, Tron’s USDD stablecoin lost its peg and fell to $0.93 before recovering. Many investors are willing to use stablecoins as long as legitimate auditing has been done. 

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