The market capitalization of Tether’s stablecoin USDT has surpassed $115 billion. According to a recent statement by CEO Paolo Ardoino, this milestone highlights USDT’s dominance in the stablecoin market, where it has maintained over 70% of the market share for nearly a year.

Recent data indicates that USDT’s market cap grew by over $1 billion in the past week, coinciding with a rebound in Bitcoin’s current price of $60,200. This growth is significant as it shows mainstream adoption of USDT in the crypto space. A market cap of this size indicates that many people trust and use Tether’s stablecoin, designed to maintain a stable value, unlike more volatile cryptocurrencies like Bitcoin.

“USDT’s recent surge to a $115 billion market cap underscores its increasing adoption as the ‘digital dollar of choice’ for a wide range of transactions and use cases beyond just cryptocurrency trading,” Ardoino said. “We’re seeing a shift in how digital assets are used, with USDT increasingly serving as an alternative to traditional savings and checking accounts, particularly in emerging markets grappling with currency devaluation.”

Tether has experienced significant growth over the last year, with its market cap increasing by over 40% since September 2023. This stability makes USDT a popular choice for trading and holding value in the crypto market. The growth also highlights the increasing role of stablecoins in the broader financial system, as they provide a reliable bridge between traditional money and digital currencies.

Blockchain analysts reported that $1.3 billion worth of USDT was moved to centralized exchanges such as Kraken, OKX, and Coinbase amidst a broader crypto market uptrend. Tether’s transparency page shows that more than 90% of USDT’s supply is either on the Tron or Ethereum networks.

Tether’s Growth Comes with Scrutiny

Tether has faced scrutiny over the potential misuse of USDT by sanctioned entities and illicit activities. Some traditional financial institutions claim that if crypto demand weakens, Tether’s supply could be jeopardized. In response to these concerns, Tether has started collaborating with Chainalysis to monitor USDT activity on secondary markets. This aims to improve transparency and security by identifying wallets associated with illicit activities or sanctioned addresses.

Tether’s Blockchain Partnership

Tether recently announced a partnership to promote blockchain education across five universities in the Ivory Coast, including Université Félix Houphouët-Boigny and Institut National Polytechnique Félix Houphouët-Boigny. Through its Tether Edu unit, Tether will support programs focused on blockchain technology, cryptocurrencies, and smart contracts. The aim is to equip students with practical skills relevant to sectors like healthcare, finance, digital identity, and supply chain management.

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