CandleFocus 'Uptober' looms for crypto as Tether's market cap hits a record high
2024-09-23
Author: Content Editor
The market capitalization of the Tether (USDT) stablecoin has been steadily rising in recent weeks, reaching a new all-time high of $119.2 billion. This increase in valuation may indicate that many cryptocurrency investors are preparing for a buying spree of various digital assets. Bitcoin's recent climb and positive sentiment in the market further support the optimism for a strong October, with some analysts predicting a potential Bitcoin bull run and altcoin season. However, the rising dominance of Tether and its lack of transparency regarding dollar reserves raises concerns and continues to be a point of debate within the industry.
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