Tether finally overtook XRP’s spot in the list of cryptocurrencies with the largest marketcap. Will it have what it takes to dethrone Ethereum?.
The Tether Treasury could be standing in a whole new arena on its battle for the dominance of the crypto ecosystem, with Ethereum on its focus as the last objective before the main boss: Bitcoin — something that seems impossible due to its marketcap of over $165 billion.
Coinmarketcap did not show the fast pace at which the Treasury was minting tokens. So fast that it quickly turned into the second most capitalized Altcoin in the market, around $8,750,861,761, this contrasted with reports from Coingecko, which did reflect that rampant activity.
Currently, Tether has increased its market cap by over 108% to reach near $8,966,525,678 in capitalization. According to Coingecko, on April 1, its full marketcap increased by $4.6 billion, after successive rounds of token mints.
Where is Tether going with these impressions
Many crypto enthusiasts are already considering Tether as the FED of the crypto ecosystem due to its excessive creation of new tokens, something with which even analysts recognized as Mati Greenspan agrees.
They are the crypto feds