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Tether-issued USDT (USDT) stablecoin broke past a new all-time-high market cap of over $83 billion as it continues its stablecoin market dominance. The new ATH market cap for the USDT stablecoin comes in a year when other stablecoin issuers are struggling to remain afloat due to regulatory ire. The same
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On May 31, Tether (USDT) tokens issued on the Tron blockchain reached another all-time high of $46 billion, compared to $36.8 billion for Ethereum, accounting for over 60% of USDT’s circulating supply. The milestone comes on the fifth-anniversary launch of the Tron mainnet.Over the past five years, Tron developers claim
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Stablecoins are a key piece of plumbing in the crypto ecosystem, bridging government-issued currencies and facilitating trading. Issuers are increasingly boosting stablecoins as a means for payments and remittances, especially in the developing world. Recently, Bitcoin-based payments app Strike integrated USDT as part of its global expansion to 65 countries.
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The market dominance of stablecoins pegged to the United States dollar has undergone some changes over the past year. While most of them are in a downward trend, Tether (USDT) has climbed back to its all-time high, data from CoinGecko shows.In the past 12 months, Circle's USD Coin (USDC) has
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Strike will be hoping to leverage Tether’s stability as a reliable store of value to appeal to more clients globally. Strike, a global payments platform built on Bitcoin‘s Lightning Network, has added support for Tether (USDT). By integrating the world’s largest stablecoin, users of the Strike app may now carry out
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As trading volumes are falling, and assuming that trading is the dominant use case for stablecoins, a respective decline in market capitalization would be anticipated, according to Clara Medalie, Kaiko’s research director. USDC and BUSD stablecoins’ market caps have shrunk in tandem with trading volumes. “But we are not seeing
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Argentinians can now purchase dairy produce with the USDT stablecoin at the Central Market of Buenos Aires — one of the largest movers of fruits and vegetables in Latin America. The move was enabled by a partnership between the stablecoin issuer Tether and on-/off-ramp platform KriptonMarket. The collaboration will provide companies
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Stablecoin issuer Tether has announced plans to purchase Bitcoin with 15% of realized operating profits routinely. Tether International Limited (Tether) seeks to further consolidate its reserves by purchasing Bitcoin (BTC) with its operating profits. An official post states that beginning this month, the stablecoin company will regularly allocate up to 15% of its realized
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The company said it will exclusively utilize realized profits from its investment operations for buying BTC, disregarding unrealized capital gains. It means that the firm considers “only the tangible gains from its operations,” consisting of the difference between the purchase price and net proceeds from an asset sale or, in
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According to the Q1 attestation signed by financial services firm BDO Italia, Tether held about $2.44 billion in excess reserves of the $79.4 billion Tether-issued tokens in circulation as of March 31. That surplus was at an all-time high, Paolo Ardoino, chief technology officer of Tether, said in the announcement. Source
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