Tether’s USDT is the market’s largest stablecoin by market cap. Just about a month ago, Tether was the seventh on the list, by the same ranking. Now, with a $4.68 billion valuation, USDT has jumped and is now the fourth-largest digital asset in the market. This impressive move, when most other assets are stressed, is noteworthy.
The Paxos Standard (PAX) is another stablecoin enjoying some promotion. Its market cap climb to $220.9 from $208 million in a few weeks, is not as notable as USDC or USDT. However, PAX jumped from the 42nd position to its current 28th position, in the same period.