USDT’s market capitalization has grown some $5.3 billion this year so far to $71.6 billion, with $3 billion of the gains after mid-February. Circle’s rival stablecoin, USD Coin (USDC), has also gained $3 billion since the Paxos announcement; however, its $44 billion market cap is still lower than at the start of 2023.
Tether’s USDT Cryptocurrency Market Share Among Stablecoins Rises to Highest Level in 15 Months
