_Tether's USDT has attained a remarkable landmark, exceeding a market capitalization of $140 billion, as reported by Odaily.¹ This signifies a considerable expansion of $50 billion over the past year, with USDT's circulation rising by roughly 20 billion in merely 40 days. As of December 16, 54.94% of all circulating USDT is hosted on the Ethereum blockchain, demonstrating its prominent position in the decentralized finance landscape. This expansion highlights the growing dependence on stablecoins like USDT for diverse financial operations and activities within the blockchain sphere. The transaction volume for USDT surpassed $113 billion over the past 24 hours, emphasizing its role as a pivotal participant in the cryptocurrency trading arena. This substantial transactional activity reflects the stablecoin's extensive utilization in various transactions, including trading, cross-border payments, and as a reserve asset.
