A report from Bloomberg published on October 5 suggests that Tether (USDT) could soon overtake Ethereum (ETH) in terms of market cap.

• The Bloomberg Crypto Outlook report for Q4 2020, which discussed various aspects of the market, states that Tether’s market cap could surpass Ethereum in 2021
• Tether has been minting a lot of USDT tokens in the past two years, which explains the rapidly increasing supply of the stablecoin
• In January 2020, the supply was roughly $4.1 billion; it surpassed $15.7 billion in October 2020
• Tether continues to face criticism over the backing of its supply, changing its policy to include both cash and other assets as collateral
• The report also speaks positively of the market as a whole, stating that “Bitcoin has a tendency to add zeros”
• The report predicts a $100,000 price tag for Bitcoin in 2025