Although nobody seems to notice, Tether (USDT) has officially crossed the $ 6 billion mark.
The Tether Treasury announces total assets on its website. However, few realize that its total assets have recently reached a new high.
Over 6 billion dollars
According to one latest figures posted on Tether's own website, the total USD assets under its control are currently $ 6,141,809,416.36.
According to the latest statistics, the total liabilities in the Tether Treasury currently totaling 6,014,443,887.36, the asset balance has exceeded the liability of 127 million dollars. So Tether has reached an important milestone - it has officially surpassed the $ 6 billion mark.
Tether USDt just passed $ 6billion and nearly no-one noticed…#justsaying
- Alistair Milne (@alistairmilne) March 27, 2020
The majority of USDT in circulation is issued on the Ethereum blockchain. However, USDT is also available on TRON (TRX), EOS and Liquid, Tether's Omni blockchain. This can be seen through the table below.
Curiously, USDT-tracking sites like CoinMarketCap still list Tether's market capitalization as $ 4.6 billion. So far, no site has reported accurate statistics on Tether's own site, but we expect it to be updated in the near future.
Stablecoins are the most controversial
Tether will not be able to reach this $ 6 billion milestone without the record release rate in the past two weeks. As Bitcoin Magazine reported, the Tether Treasury printed USDT in record numbers, almost every day. Overall, this has made exchanges hold more USDT than ever.
Tether's transaction volume has increased sharply over Bitcoin in recent times. However, this stablecoin is still hidden in mystery. As declare of stablecoin's co-founder in September 2019, it doesn't really matter if USDT is backed by an equivalent amount of dollars. At the same time, Tether also suffered a major lawsuit in the district court of South New York.
Tether is currently the fourth largest cryptocurrency in the cryptocurrency space, an unprecedented feat many years ago. However, it is still the most controversial part of the market and is often used to make Bitcoin price. We still don't really know where the Tether reserves are located so USDT can cross the $ 6 billion mark, these questions need to be addressed more than ever.
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