My name is Lucky Ali and most welcome to my blog in this blog we are going to talk about Tether's market valuation. Tether is also called USDT and it has now reached $140 billion and this is huge. As of December 16, Tether stablecoin's total market cap accounts for 3.75% of the massive $3.73 trillion cryptocurrency universe.
The journey of the US Dollar-pegged digital economy has been quite exciting since stable cryptocurrencies first came on the scene, and USDT or tether has become the undisputed heaviest. In these seven days, stable cryptocurrencies' valuation has reached $140 billion, and just one year ago, on December 16, 2023, tether's supply was 90 billion. That’s a massive increase of $50 billion in just 1 year which is huge guys and that is why we can't deny that tether (USDT) dominates the cryptocurrency world among other stablecoins.
Despite only being a slice of the $3.73 trillion cryptocurrency world, Tether holds 67.31% of the $208 billion stable crypto sector which is more than half and that is why I said USDT dominates and in the future, it will remain the same for a long time. It has been the top dog in cryptocurrency trading volume for all 12 months, above all other stable currencies and even BTC.
Right now, of the 140 billion USDT, 76.92 billion have been issued on the Ethereum chain, while 61.75 billion have been created on the Tron blockchain network this sounds very interesting and at the same time shocking too, meaning 138.67 billion Tethers are on these two Ethereum and Tron networks, with the rest scattered across a few other blockchains which we are not going to count because they are not holding a big chunk of USDT.
In the last month, tether’s supply has increased by almost 20 billion. Remember when Tether was mostly on the Omni blockchain when it first launched? That was an old time when USDT was not that much popular. Well, then it made its grand entrance on the Ethereum blockchain and not only this but it also dominated there for several years. Fast forward to the first half of the 2024 year, the Tron chain was the new favorite, and the Ethereum chain won the crown again, but we should not forget the popularity of the Tron chain. As of December 16, 54.94% of all circulating USDT (tether) has been issued on the Ethereum chain.
We can see how USDT is dominating even after the existence of big stablecoins in the cryptocurrency market and there are several reasons behind it and we will talk about it in future posts. What is your opinion on this information please let me know in the comment section. Please share this post on social media
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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Tether is a stablecoin that is on top in terms of value of market cap. I feel that there should be more coins on list and usdc is catching up I believe but we still need more reliable stablecoin. I expect a lot from Rlusd by ripple so that there's no monopoly on the one stable coin, and this 140 billion is massive amount.
More stablecoins are needed for healthy competition and diversification. very well said :)