With a market capitalization of $90 billion in 2023, Tether is close to the top 100 global assets

Tether, the leading stablecoin by market capitalization, increased its supply by 5.5% in the last month, reaching a market cap of $90 billion.

Since 2015, Tether market cap has grown by 35,912,812%

Since the beginning of 2023, Tether (USDT) has experienced significant growth. Since January 1, 2023, its market capitalization is $66.3 billion, which has soared to $90 billion in 340 days. The expansion means USDT’s market capitalization has increased by more than 35% since the beginning of the year, adding $23.7 billion.

Tether’s market cap currently accounts for 5.369% of the total crypto economy’s $1.68 trillion. Not only does Tether rank third among more than 10,000 digital currencies in terms of market valuation, but it also leads the way with a daily trading volume of $23 billion. The main trading pairs of USDT involve major fiat currencies such as the US dollar, the euro, the Turkish lira, the Mexican peso, and the Thai baht.

While year-to-date data shows that USDT’s market cap has risen by more than 35%, 5.5% of that rise occurred in the previous month. According to Tether’s transparency page, of the $90 billion total, the Tron network accounts for $47.82 billion, ETH Square accounts for $41.01 billion, and the rest is spread across various other blockchain platforms.

Back on March 16, 2015, the market capitalization of USDT was only $251,000. In eight years, the token’s market cap has surged by a massive 35,912,812%. In terms of market capitalization, Tether’s total market valuation is on the verge of entering the top 100 global assets, including exchange-traded funds (ETFs) and companies. To achieve this feat, USDT needs a market cap of more than $130 billion.

What do you think about the stablecoin Tether and its growth to $90 billion in market capitalization?