Even according to the results of the latest correction, the overall cryptocurrency market remains more capitalized than in March at the level of local lows. According to CoinMarketCap, the total value of all cryptocurrencies at the moment is about $ 197 billion, which is 50% higher than the minimum of $ 129 billion.

This is quite unexpected, because only a few weeks ago, investors were afraid that Bitcoin was “dead”, and its price was going to a level below $ 1000. And even now, analysts are skeptical of a possible rally, arguing that it can be just an impulse surge before the correction continues.

However, the continued growth in Tether USDT's market capitalization suggests that an upward rally in the crypto industry is inevitable.

Tether's market cap is skyrocketing - good for crypto bulls

According to Skew, after another series of tokens issue, the valuation of the USDT negotiable offer rose to $ 6.7 billion. This is $ 2.2 billion higher than the market capitalization of $ 4.5 billion recorded in early March:

Analysts see this trend as positive for the industry. In particular, this can explain the recovery of Bitcoin from March lows below $ 4000 to the current level.

For example, back in January, analyst Charles Edwards noted that “in the past 1.5 years, major changes in Tether’s market capitalization have affected Bitcoin’s value.”

Before a 50 percent dump in November 2018, when the leading cryptocurrency depreciated from $ 6,000 to $ 3,150, the negotiable USDT offer fell by hundreds of millions. In addition, before the significant rally of 2019, several hundred million Tether tokens were “printed”.

Thus, the steady increase in Tether's capitalization indicates that interest in the industry remains. Sooner or later, these funds will be used for investments in the Bitcoin market and leading Alcoins.