Today, 250 million new USDT tokens entered into circulation after no tokens have been issued since May 18. The issuance comes shortly after the transparency update, which resulted in a price rally 5 days ago.

After all confirmations are through, the total supply of USD will be 2.85 billion, which will make Tether the number 10 coin with current prices, just $26 million shy of the number 9 spot, currently occupied by IOTA.

Tether is no stranger of the top 10. Just yesterday it joined the top 10 briefly after the market plummeted to the lowest point in 2018.

Tether, the company behind the currency, shares a number of core team members with the Bitfinex exchange and there have been concerns about this relationship. USDT is a stablecoin, pegged 1:1 with the US Dollar. It’s used as a US dollar substitute by exchanges that don't deal with fiat currencies, such as Bitfinex and Binance. USDT plays a major role in the cryptocurrency market, with daily trading volume mostly north of $2 billion.