Tether Market Cap Up 65% Since ‘April Fools’ Bitcoin Price Surge

The market capitalization for Tether (USDT) is up by about 65% since the ‘April Fools’ bitcoin (BTC) price rally. This surge in many ways is reminiscent of the way BTC has experienced massive price gains since the beginning of the second quarter of 2019 (Q2 2019).

With the parabolic rise in the USDT market cap comes the question of whether the current BTC rally is indeed driven largely by capital flight to USDT. Meanwhile, Tether as a company continues to fight against charges of covering up losses totaling $850 million brought against it by the New York Attorney General (NYAG).

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