According to Token Terminal, USDT issuer Tether has increased its share of the stackcoin market to 75% over the past two years.
Tether has generated revenues of about $400 million in the past 30 days after a record first quarter of 2024, when revenues exceeded $4.5 billion.
#Tether witnessed record growth in #USDT reserves on the exchange, which reached USD 20.339 billion on August 13.
Tether, the issuer of USDT, the world's largest stablecoin, has achieved a significant increase in market share, reaching 75% over the past two years.
The 20% increase in market share demonstrates the recognition of USDT in the industry and cryptocurrency market and makes Tether a significant player #Token Terminal reported that the USDT supply reached $118 billion, establishing its dominance in the stackcoin market Token Terminal reported that the USDT supply reached $118 billion, demonstrating its dominance in the stackcoin market.
ICYMI: Over the past two years, Tether_to has increased its market share from 55% to 75%.
the financial side, Tether's revenue in the past 30 days amounted to about 400 million U. S. dollars. This figure follows a record Q1 2024, when the company reported revenues of more than $4.5 billion. Most of these revenues, about US$3.52 billion, came from #bitcoin and gold investments, and only US$1 billion came from operating expenses.
The rise of Tether in the stablecoin market was accompanied by an increase in USDT inventory on various exchanges, which reached a record US$20.339 billion on August 13.
investors are hoarding stablecoins for future investments in crypto assets. Historically, USDT balances on exchanges have grown in both bull and bear markets, indicating a tendency to convert volatile cryptocurrencies into assets like USDT during periods of volatility and accumulate these assets in bull markets to take advantage of falling prices.
Tether, meanwhile, is undergoing organizational expansion and consolidation.
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