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Tether’s USDT stablecoin hits historic $100B market cap
The largest stablecoin by market capitalization has gotten even larger, with Tether hitting a record $100 billion market cap. Crypto stablecoin Tether has crossed an all-time high market capitalization of $100 billion, posting a 9% year-to-date growth and furthering the gap between its next-largest rival, USD Coin USDT momentarily hit its $100 billion milestone on March 4 as the market capitalization fluctuates based on the current price and circulating supply, according to data from CoinGecko. It’s over $71 billion ahead in market cap compared to its closest stablecoin rival, USDC, issued by Circle, which has also seen its market cap grow this year. In Q4 2023, the company said it posted a record quarterly profit of $2.85 billion, $1 billion of which was derived from its T-Bills. Its fourth-quarter report disclosed it held over $80 billion worth and its past claimed to be the world’s top T-Bills buyer. Source - Coin Telegraph
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