USDT's market cap hits a new high. Will the cryptocurrency rebound continue?
Trending Articles- Gold rises to near $5,150 as Trump’s tariffs boost haven demand, US-Iran talks eyed
- Top 3 Price Prediction: BTC breakdown hints at deeper correction as ETH and XRP extend losses
- Gold rises above $4,950 as US-Iran tensions boost safe-haven demand
- Gold drifts higher to $5,000 on heightened US-Iran tensions
- Gold climbs above $5,200 on geopolitical tensions, trade uncertainty
- Silver Price Forecast: XAG/USD rises to near $78.00 on safe-haven demand
The market cap of USDT keeps rising. But this doesn't guarantee a rebound in the crypto market. A decline is still possible.
On April 26, Tether's CEO, Paolo Ardoino, announced on X that USDT's market cap reached $147 billion, setting a new record.
As of this writing, USDT's market cap stands at $147.21 billion. It ranks 120th globally, surpassing companies like S&P Global Inc, Caterpillar Inc, and Tata Motors Ltd.
Assets ranked 120-130 in global market capitalization, source: 8marketcap.
Despite USDT's growth, the total crypto market cap remains stagnant. It's even showing signs of decline. This suggests that funds are slowly exiting the market, making it hard for a rebound to last. If outflows continue, it could trigger a crash in the crypto market.
Total market cap changes in the crypto market over the last 30 days, source: CoinMarketCap.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
