Main navigation

Tether (USDT) Market Cap Sets New Record: Details

Wed, 8/11/2023 - 16:45
Tether (USDT) Market Cap Sets New Record: Details
Cover image via
Read U.TODAY on
Google News

U.S. Dollar Tether (USDT) by Tether Limited, the largest stablecoin in the crypto segment, increased its capitalization to previously unseen highs. Its main competitor, USDC by Circle, keeps shrinking to multiyear lows.

Tether (USDT) market cap jumps above $86 million, adds 23% in one year

Today, on Nov. 8, 2023, Tether Limited increased the capitalization of its flagship stablecoin USDT by over $300 million in equivalent. It printed a new all-time high over $86.12 in equivalent, per CoinMarketCap's data.

USDT sets new market cap record
Image by CoinMarketCap

Since the reduction registered in late Q4, 2022, USDT market cap is growing. In the last 12 months, this metric added almost 23%.

In June 2023, it recovered to values unseen since the 2022 crypto markets collapse. Since mid-October 2023, it started surging at an increased pace. 

Paolo Ardoino Appointed as Tether CEO

USDT dominance in the stablecoins segment has never been that obvious: it surpassed USDC, the second-largest stablecoin, by 153%.

USDC capitalization totals $24 billion, being nearly 56.3% down compared to the all-time high registered in Q2, 2022.

The third largest asset, Dai (DAI), the most capitalized alogorithmic (decentralized) stablecoin, sees its supply at $5.34 billion in equivalent.

Tether (USDT) becomes larger U.S. debt holder than UAE, Netherlands

As a centralized stablecoin, USDT is backed by a diversified portfolio of assets. According to its Q3, 2023, attestation document, U.S. T-bills are responsible for the lion's share of its portfolio.

Currently, Tether holds $72.6 billion in T-bills. As such, its exposure to U.S. debt seems more impressive than that of the majority of countries, including the Netherlands ($72.3 billion) and United Arab Emirates ($64.9 billion).

As covered by U.Today previously, Tether (USDT) is focused on Bitcoin (BTC) mining software in 2023.

Tether Bitcoin Mining Moria Instrument Demonstrated by Paolo Ardoino

In October, its CEO, Paolo Ardoino demonstrated Moria, a new-gen Bitcoin (BTC) mining orchestration tool.


Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles