Tether Hits $150B as Cross-Border Crypto Payments Reach $600B
The post Tether Hits $150B as Cross-Border Crypto Payments Reach $600B appeared on BitcoinEthereumNews.com. Tether has reached a new milestone with its USDt stablecoin surpassing a $150 billion market capitalization, coinciding with new findings from the Bank for International Settlements (BIS) showing global cross-border cryptocurrency payments totaled $600 billion in the second quarter of 2024. Tether’s USDt Hits $150 Billion Milestone as Stablecoin Demand Accelerates Globally Tether’s USDt, the world’s largest stablecoin by market capitalization, has officially surpassed the $150 billion mark for the first time, cementing its dominance in the global stablecoin market and reinforcing the accelerating demand for crypto-pegged fiat alternatives. This historic milestone was reached on May 12, reflecting over 36% year-over-year growth in USDt’s circulating supply. The surge in adoption has been particularly pronounced since November 2024, coinciding with the re-election of Donald Trump as President of the United States, which many in the industry interpret as a bullish signal for the broader cryptocurrency ecosystem. USDt’s market cap growth over the past year (Source: CoinMarketCap) At its current market capitalization, Tether accounts for 61% of the total global stablecoin market, according to CoinMarketCap data. The next closest competitor, Circle’s USDC, holds nearly 25% market share. Combined, the two account for the lion’s share of the rapidly expanding digital dollar economy that is underpinning much of today’s crypto trading volume. As the leading stablecoin, USDt plays a crucial role in providing liquidity across exchanges and DeFi platforms, often acting as the base trading pair for countless cryptocurrencies. Its growing dominance is seen by analysts as a key indicator of broader market engagement and institutional inflows into digital assets. Tether’s growth is also occurring against a backdrop of rising demand for digital cash. According to recent figures from Dune and Artemis, the number of active stablecoin wallets has jumped from 19.6 million to 30 million over the past year—an increase of more…
The post Tether Hits $150B as Cross-Border Crypto Payments Reach $600B appeared on BitcoinEthereumNews.com.
Tether has reached a new milestone with its USDt stablecoin surpassing a $150 billion market capitalization, coinciding with new findings from the Bank for International Settlements (BIS) showing global cross-border cryptocurrency payments totaled $600 billion in the second quarter of 2024. Tether’s USDt Hits $150 Billion Milestone as Stablecoin Demand Accelerates Globally Tether’s USDt, the world’s largest stablecoin by market capitalization, has officially surpassed the $150 billion mark for the first time, cementing its dominance in the global stablecoin market and reinforcing the accelerating demand for crypto-pegged fiat alternatives. This historic milestone was reached on May 12, reflecting over 36% year-over-year growth in USDt’s circulating supply. The surge in adoption has been particularly pronounced since November 2024, coinciding with the re-election of Donald Trump as President of the United States, which many in the industry interpret as a bullish signal for the broader cryptocurrency ecosystem. USDt’s market cap growth over the past year (Source: CoinMarketCap) At its current market capitalization, Tether accounts for 61% of the total global stablecoin market, according to CoinMarketCap data. The next closest competitor, Circle’s USDC, holds nearly 25% market share. Combined, the two account for the lion’s share of the rapidly expanding digital dollar economy that is underpinning much of today’s crypto trading volume. As the leading stablecoin, USDt plays a crucial role in providing liquidity across exchanges and DeFi platforms, often acting as the base trading pair for countless cryptocurrencies. Its growing dominance is seen by analysts as a key indicator of broader market engagement and institutional inflows into digital assets. Tether’s growth is also occurring against a backdrop of rising demand for digital cash. According to recent figures from Dune and Artemis, the number of active stablecoin wallets has jumped from 19.6 million to 30 million over the past year—an increase of more…
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