Tether’s USDT hits record $120 billion market cap, flashing ‘Uptober’ signal

Tether’s United States dollar-denominated stablecoin has surpassed the record $120 billion market capitalization for the first time, signaling a potential crypto rally.

Arkham Intelligence data shows that during the past 48 hours, Tether’s treasury sent over $66 million worth of stablecoins to Binance and over $20 million worth of USDT to the Kraken exchange, signaling incoming buying pressure from investors.