news.bitcoin.com
As the cryptocurrency market swells to a valuation of $2.6 trillion, the leading stablecoin, tether, has achieved a market cap of $100 billion. Beginning from the start of 2024, tether has seen an addition of 8.27 billion tokens to its supply.
From $300K to $100 Billion: Tether’s Meteoric Rise
Tether (USDT), the top fiat-linked digital currency, has reached a market capitalization worth $100 billion as of March 5, 2024. Data indicates that USDT’s supply has witnessed a 4% increase in just the past month, and since Jan. 1, 2024, the supply of the dollar-tied coin has expanded by 8.27 billion.
According to an archive of Tether’s transparency page, there are now 100,044,694,548 USDT tokens circulating. A staggering 99.81% of this total supply is predominantly distributed across Tron and Ethereum, with Tron holding 53.81 billion and Ethereum home to 46 billion USDT tokens.
The remainder of USDT’s circulation is spread across various other blockchain platforms, with Solana trailing behind Ethereum. Tether reports that Solana hosts 1.88 billion USDT, while Avalanche has recorded the issuance of 1.04 billion tether tokens.
In the last day alone, the worldwide cryptocurrency market saw transactions amounting to $214 billion, with tether transactions making up $65 billion of this volume. Data reveals that tether, as issued on Tron, is held by 38.77 million users, with over 1.58 billion transfers recorded.
Ethereum-based USDT is owned by 5,341,025 individuals, and the platform has facilitated 222,863,02 tether transactions to date. According to Coingecko.com, on Feb. 24, 2015, the total number of tethers in circulation was approximately 304,476. Fast forward to today, and the supply of USDT expanding to 100 billion, indicates massive growth over the last nine years.
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