Tether’s Market Cap Soars to $90 Billion
Tether, the leading stablecoin by market capitalization, has experienced significant growth, with its supply increasing by 5.5% in the last month. Currently valued at $90 billion, Tether’s market cap has seen a remarkable increase of 35,912,812% since March 16, 2015.
Tether’s Year of Expansion
Since the beginning of 2023, Tether has experienced substantial growth. Starting the year with a market value of $66.3 billion, it has surged to $90 billion in just 340 days, representing a 35% increase and adding $23.7 billion to its market capitalization.
Tether’s market cap now represents 5.369% of the total crypto economy, making it the third-largest digital currency by market valuation. It also leads in daily trading volume with $23 billion, primarily trading against major fiat currencies like USD, EUR, TRY, MXN, and THB.
Tether’s Impressive Rise Over the Years
Looking back to March 16, 2015, Tether’s market value was a mere $251,000. Over the past eight years, its market cap has skyrocketed by a staggering 35,912,812%. Tether is on the verge of entering the top 100 assets in terms of market capitalization, joining the ranks of exchange-traded funds (ETFs) and companies, once it surpasses $130 billion in market cap.
Hot Take: Tether’s Growth Continues Unabated
Tether’s latest surge in market cap highlights its continuing dominance in the stablecoin market. With impressive year-to-date increases and significant growth in the past month, Tether remains a key player in the cryptocurrency space. As it approaches the $100 billion mark, its popularity and influence are only expected to grow, solidifying its position in the top tier of the crypto market. With an expanding ecosystem and widespread adoption, Tether’s journey to become one of the world’s most valuable assets is well underway.
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