Tether Goes Nuclear: USDT Joins Exclusive $100 Billion Market Cap Club Amid Bitcoin Bull Market

Tether Goes Nuclear: USDT Joins Exclusive $100 Billion Market Cap Club Amid Bitcoin Bull Market
фото показано с : zycrypto.com

2024-3-5 16:07

In an exciting turn of events, Tether (USDT), the world’s leading stablecoin, briefly hit a historic $100 billion market capitalization on Monday, highlighting its unrivalled supremacy in the stablecoin sector.

The dollar-pegged stablecoin’s growth coincides with a meteoric rally in Bitcoin and the general crypto market this year. The top cryptocurrency has been on a tear in recent weeks in the aftermath of spot Bitcoin ETFs launch on Jan. 11. The flagship cryptocurrency sprung back above the $65,000 region early Monday morning, coming just 6% shy of its all-time high price of $69,044 it set on November 10, 2021.

USDT’s Stability And Market Dominance

Tether’s market cap recently surpassed the coveted $100 billion mark momentarily thanks to a fresh billion-dollar minting, further fortifying its position as the leading stablecoin.

According to data from CoinGecko, Tether’s market cap has increased from roughly $91 billion on Jan. 1 to over $99.7 billion at press time, up circa 9% year-to-date. USDT is currently more than $71 billion ahead of its closest competitor, USD Coin (USDC), which trails far behind in the seventh place with a market cap of $28.9 billion.

USDT is the third-biggest crypto by market value behind Ethereum (ETH), and it plays an important role as a blockchain-based option for investors seeking a safe harbor from price volatility. What sets it apart from its rivals is its steadfast stability, holding a constant value of approximately $1.

One catalyst for USDT’s expansion is Tether’s strong financial performance. Tether reported nearly $3 billion in profits in the fourth quarter of 2023, with a large part of the profits coming from the rise of the company’s U.S. Treasuries, Bitcoin, and gold investments.

Tether’s growth can also be attributed to the integration with the TRON network. Currently, data from DefiLlama shows that more than $50.28 billion USDT is circulated on Tron, outpacing the $40.28 billion on the Ethereum network.

Tether’s remarkable achievement of hitting the $100 billion market cap has sparked discussions among industry pundits and investors, as an increase in USDT supply typically signifies bullish market sentiment and has been a harbinger of a significant Bitcoin price appreciation.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market billion 100 tether usdt stablecoin hit

Источник: zycrypto.com

market billion → Результатов: 126


Crypto Market Attempts Bullish Breakout, Gains $10 Billion In 3 Hours

It’s mid-week and the bulls have continued to show their strength. Since the bears descended on the market last week, they have wiped out more than $50 billion. One of the worst affected coins has been Ethereum but the crypto market has now gained over $10 billion in the last few hours, pushing its market […] The post Crypto Market Attempts Bullish Breakout, Gains $10 Billion In 3 Hours appeared first on ZyCrypto.

2019-7-18 22:37


Crypto Market Valuation Surpasses $300 Billion, Breaking 372-Day Record

The crypto market seems to be leaping in considerable bounds as Bitcoin is comfortably on the way to hitting the $10 mark in the near future. At the time of writing, the entire market cap jumped higher than $301 billion which is the first time we’ve seen a figure this robust in more than a […] The post Crypto Market Valuation Surpasses $300 Billion, Breaking 372-Day Record appeared first on ZyCrypto.

2019-6-22 22:37


Top Losers: Bitcoin Cash [BCH], EOS, Litecoin [LTC] lead market plummet as $20 billion is shaved-off

With Bitcoin [BTC] dropping below $8,000 on the back of a massive 7 percent pullback in five hours, the collective market felt the embers of a bearish flame. A major market correction ensued on the eve of June 4, shaving over $20 billion from the overall market cap, with the altcoins which looked to go […] The post Top Losers: Bitcoin Cash [BCH], EOS, Litecoin [LTC] lead market plummet as $20 billion is shaved-off appeared first on AMBCrypto.

2019-6-4 10:01


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Минфин России не хочет разрешать некастодиальные криптокошельки

В Минфине России считают возможным разрешить легальное использование некастодиальных криптокошельков, но только ограниченному числу юрлиц и точно не розничным инвесторам. Об этом заявил замминистра финансов Иван Чебесков.