*š The market capitalization of the stablecoin USDT has surpassed $130 billion.*
The market capitalization of Tether's USDT has indeed surpassed $130 billion, with the current market cap standing at $130.82 billion.
This milestone indicates a significant increase in demand for the stablecoin, which is widely used for trading and hedging in the cryptocurrency market.
USDT's growing market cap can be seen as a positive sign for the broader cryptocurrency market, as it suggests that investors are accumulating stablecoins in preparation for investing in other cryptocurrencies. Additionally, the increasing dominance of USDT in the stablecoin market, with a market share of over 60%, further solidifies its position as a leading stablecoin.
It's worth noting that the total market capitalization of stablecoins has also reached a new all-time high of $171 billion, surpassing the previous peak achieved in March 2022 Ā². This growth is attributed to increased adoption and usage of stablecoins across the crypto ecosystem.