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Tether’s Supply Makes Room for Bitcoin Bulls

Tether’s market cap in the last two months has increased by nearly $3.6 billion, which is more than the amount issued between all of 2015 and mid-2019. With crypto markets gaining momentum, investors may be systematically buying more USDT to trade for Bitcoin.

Buying Bitcoin with Tether

The rise of stablecoins has made investing in cryptocurrency much easier. Investors and traders no longer need to waste precious time converting their fiat to crypto. Instead, they can keep their funds parked in stablecoins that mimic the price of fiat.

Since the market hit bottom in March 2020, the total amount of Tether’s stablecoin, USDT, has nearly doubled from $4.2 billion to $7.8 billion, recording an 85% increase. 

Tether’s market cap has been in an uptrend for over a month, and Bitcoin’s price has moved with it. Read More...