• Tether’s USDT touched the $100 billion market cap threshold Monday for the first time in its history, CoinGecko data shows.
• USDT grew by $2 billion over the past week, benefiting from increased demand for liquidity for crypto trading.

USDT, a stablecoin issued by Tether, briefly hit $100 billion in market capitalization for the first time in its history, according to CoinGecko data, as the rally on crypto markets expanded.

While the number of USDT tokens stood at around 99.5 billion, according to Tether’s website, a slight price premium over the token’s $1 price peg on some exchanges was enough to push the market cap above that level for a short while.