Tether, the most valuable stable coin by market value, has seen its coins increase by volume lately in the fast-changing crypto market.
The latest macro on the widely used stable coin is that Tether treasury minted a whopping 150 million USDT some hours ago, as seen on Whale Alert, an advanced blockchain tracker, and analytic firm.
- At the time of writing, Tether traded at $1.00 with a 24 daily trading volume of $43.3 billion.
- Tether is up 0.01% in the last 24 hours. It’s now ranked the fourth most valuable crypto with a market capitalization of $19.6 billion.
- It has a circulating supply of 19,659,810,789 USDT coins and the maximum supply is not available.
What you should know about Tether
- Tether is designed as a blockchain-based cryptocurrency, whose digital coins in circulation are backed by the same value of traditional fiat currencies like the U.S dollar, Japanese Yen, or the Euro. It trades under the ticker symbol USDT.
- Meanwhile, there is a development disrupting the stablecoin market at an unprecedented level, on strong reports revealing U.S lawmakers are enacting the STABLE Act bill, that will comply all stable coin issuers to have bank licenses, that is seen as a strong compliance instruction of Tether, Circle, and other leading stablecoins.
- Crypto experts have long argued this overly burdensome bill will not only hamper innovation but ensure the only players in this new space are the deep-pocketed fintechs with the resources for compliance.