Sitting Aside: Record-Breaking 6 Billion Tether (USDT) In Circulation Following Major Bitcoin Price Volatility in March

Tether, and most stablecoins, have been continuously minting new coins to cope with the growing traders’ demand in times of high volatility and uncertainty in the cryptocurrency market. In such unpredictable times, most traders turned to the least volatile assets in the cryptocurrency field – stablecoins.

While Bitcoin and most altcoins were declining, the market cap of stablecoins skyrocketed. It’s also worth noting that there has been a massive spike in the market capitalization from March 31st to April 1st as it increased by almost 1.5 billion USDT.

Timeline of Bitcoin, Tether