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Tether mints more coins to break $60 billion market cap

Tether (USDT), the world’s largest stablecoin by market capitalization, continues to grow despite record-breaking cryptocurrency outflows triggered by Elon Musk’s (BTC) criticism.

On Monday, Tether’s market cap hit $60 billion for the first time in history, marking another milestone of the stablecoin’s growth. According to data from Tether Transparency, USDT market value amounts to $60.4 billion at the time of writing, up over 580% from one year ago.

Tether market cap one-year chart. Source: CoinMarketCap