{"id":137725,"date":"2024-09-23T10:00:52","date_gmt":"2024-09-23T07:00:52","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137725"},"modified":"2024-09-23T01:23:54","modified_gmt":"2024-09-22T22:23:54","slug":"tethers-usdt-surge-highlights-unmatched-dominance-in-the-stablecoin-market","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/tethers-usdt-surge-highlights-unmatched-dominance-in-the-stablecoin-market\/","title":{"rendered":"Tether’s USDT Surge Highlights Unmatched Dominance in the Stablecoin Market"},"content":{"rendered":"

This week, Tether issued an additional $1 billion in USDT<\/a> <\/strong>on the Ethereum<\/a> <\/strong>blockchain, bringing its total cap to approximately $119 billion. Over the past year, the company has minted<\/a> <\/strong>$35 billion in USDT, solidifying its lead over Circle\u2019s USDC<\/a><\/strong>, which holds less than a third of Tether\u2019s market share.<\/p>\n

As of Q2 2024, Tether manages over $97 billion in U.S. Treasuries and repurchase agreements, making it the 18th largest holder of U.S. Treasuries globally, surpassing countries like Germany and the UAE.<\/p>\n

The rise of stablecoins has made them essential in various markets, especially in places like Nigeria, where they are increasingly used for transactions and savings. Tether\u2019s user base now exceeds 350 million, contributing to its significant profitability, with over $400 million reported in earnings in the past month.<\/p>