USDT reaches a historic milestone with a market capitalization of $100 billion.

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2024-03-12

The world's largest market-capitalized stablecoin, Tether's USDT, has set a new record by surpassing the $100 billion market capitalization threshold.

The market capitalization of USDT temporarily reached the $100 billion mark on March 4th.

Tether's USDT has become one of the most stable and widely used assets. With a stable value pegged at $1.00, USDT has attracted significant attention from the crypto community and investors. In particular, surpassing the $100 billion market capitalization milestone is a significant step, setting a historic milestone for USDT and the entire cryptocurrency market.

On March 4th, USDT temporarily surpassed the $100 billion market capitalization mark, marking a 9% growth compared to the same period last year. Although market capitalization may fluctuate based on current prices and circulating supply, data from CoinGecko shows the stability of Tether over time.

Tether's outperformance compared to its closest stablecoin competitor, USDC, is clear evidence of the strength and influence of this platform in the cryptocurrency market. The stability and reliability of USDT have made it the preferred choice for many investors and users in conducting transactions and storing digital assets.

Tether plays a crucial role in reshaping the landscape of the digital financial scene.

Tether is a cryptocurrency pegged to the value of the US dollar available on 14 different blockchains and protocols, providing flexibility and utility for users. With a large market capitalization, Tether currently ranks third behind Ether and serves a crucial role as a stable asset in the crypto world. Particularly, in the fourth quarter of 2023, the Tether issuing company recorded a historic quarterly profit of $2.85 billion.

Tether has committed to ceasing lending from its reserves by the end of 2023, creating transparency and stability for users. Notably, over half of the current USDT supply is issued on the Tron blockchain, a platform trusted and chosen by many, especially in the Southeast Asia region. This indicates Tether's strong development across various blockchain platforms and the global user preference.

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