Usdt Market Cap Reaches New High

last updated on

Usdt Market Cap Reaches New High

Tether (Usdt) Market Cap Reaches $151 Billion

The market cap of stablecoins has hit a new record, with the market cap just crossing the $243 billion. This is an important milestone for the stablecoins, with the USDT leading the way.

The Tether (USDT) is a big name in the stablecoin market with a market cap of $151 billion. This means the USDT now accounts for almost 62% of the entire market.

Stablecoins Market Share Keeps Increasing

The next name is USDC, which has assets worth $60.4 billion. Next is the USDe (Ethena) which is sitting near $5 billion.

President Donald Trump's World Liberty Financial recently introduced the USD1, which has since increased its assets by more than $2.1 billion. The majority of these funds are probably connected to MGX's $2 billion stake in Binance, the largest cryptocurrency exchange in the market.

Other noteworthy stablecoins include PayPal's PYUSD and Ripple USD, which have amassed assets of $313 million and $900 million, respectively.

In addition, Visa's data shows that the number of people using stablecoins keeps rising over time. In the past 12 months, more than 192.2 million distinct sending addresses have made transactions, and 242.7 million stablecoins have been received. There are now 250 million active unique addresses.

Due to all of this, the volume of transactions has increased to $33.6 trillion and the total number of transactions to 5.8 billion.

Because stablecoins are less expensive than more conventional approaches, they have grown in popularity. For instance, there is a 2.99% fee in addition to a variable fee when sending $1,000 to a user via PayPal.

The fee for using a stablecoin is much lower than that. Additionally, compared to more conventional techniques like wire transfers, these transactions are quicker.

According to Citi, stablecoins will keep increasing their market share over the ensuing years.

Standard Chartered predicts that stablecoins will reach $2 trillion by 2028, while the company predicted in a recent report that they will be worth over $1.6 trillion by 2030.

Trending Stories