Tether’s Soaring Growth: From $66.3 Billion to $90 Billion in 340 Days
Tether, the leading stablecoin, has marked a remarkable 5.5% increase in its supply over the last month, reaching a substantial market valuation of $90 billion.
Notably, in the span of 340 days since the beginning of 2023, Tether (USDT) has witnessed substantial growth, surging from $66.3 billion to $90 billion, reflecting a significant 35% expansion and adding $23.7 billion to its market capitalization. Currently representing 5.369% of the total $1.68 trillion crypto economy, Tether holds the third position among over 10,000 digital currencies by market valuation and leads in daily trading volume with $23 billion.
The primary trading pairs for USDT involve major fiat currencies such as USD, EUR, TRY, MXN, and THB. The transparent breakdown of the $90 billion total reveals $47.82 billion on the Tron network, $41.01 billion on Ethereum, and the rest distributed across various blockchain platforms. Tether’s remarkable journey is evident when considering its market value of a modest $251,000 on March 16, 2015, with an astounding 35,912,812% increase in market cap over eight years, positioning it on the verge of entering the world’s top 100 assets by market capitalization. To achieve this, USDT would need a market cap surpassing $130 billion.
Clever Robot News Desk 8th December 2023
