Introduction
Tether, the leading stablecoin in terms of market capitalization, has witnessed a remarkable growth in its supply, with an increase of 5.5% in the past month. As a result, it has achieved a significant market valuation of $90 billion.
Tether's Impressive Growth in 2023
Since the beginning of 2023, tether (USDT) has experienced substantial growth, starting the year with a market value of $66.3 billion on January 1st. In just 340 days, it has surged to $90 billion, marking a remarkable increase of over 35%. This surge has added $23.7 billion to USDT's market capitalization since the start of the year.
Tether's Dominance in the Crypto Economy
Tether's market capitalization now represents 5.369% of the total $1.68 trillion crypto economy. Not only does it hold the third position among over 10,000 digital currencies in terms of market valuation, but it also leads in daily trading volume with $23 billion. USDT's primary trading pairs involve major fiat currencies such as the USD, EUR, TRY, MXN, and THB.
Recent Surge in Market Cap
While the year-to-date data indicates a more than 35% rise in USDT's market cap, 5.5% of this increase occurred in the previous month alone. According to Tether's transparency page, out of the total $90 billion market capitalization, the Tron network accounts for $47.82 billion and Ethereum for $41.01 billion, with the remaining distributed across various other blockchain platforms.
Impressive Market Cap Growth Over the Years
Looking back to March 16, 2015, USDT's market value was a modest $251,000. Over the course of eight years, the coin's market cap has skyrocketed by an astonishing 35,912,812%. Tether's aggregate market valuation is now on the verge of entering the world's top 100 assets in terms of market capitalization, which includes exchange-traded funds (ETFs) and companies. To achieve this milestone, USDT would need a market cap exceeding $130 billion.
Share Your Thoughts
What are your thoughts on tether's market cap surging to $90 billion? Feel free to share your opinions and insights on this subject in the comments section below.
CFTC
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement accounts
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
Investing gold vs. stocks
Investing in gold as an investment vehicle might seem like a very risky proposition these days. Many people believe that investing in gold is not profitable. This belief stems from the fact that most people see gold prices being driven down by the global economy. They fear that investing in gold will result in a loss of money. However, investing in gold can still provide significant benefits. We'll be looking at some of these benefits below.
One of the oldest forms known of currency is gold. It has been in use for thousands of year. It was used by many people around the globe as a currency store. As a means of payment, South Africa and many other countries still rely on it.
Consider the price per gram when you decide whether you should invest in or not. It is important to determine the price per gram you are willing and able to pay for gold bullion. If you don’t know the current market rate for gold bullion, you can always consult a local jeweler to get their opinion.
It is also worth noting that although gold prices have declined recently, the cost of producing gold has increased. Although gold's price has fallen, its production costs have not.
You should also consider the amount of your intended purchase when considering whether you should buy or not. If you intend to only purchase enough gold to cover your wedding rings it may be a smart decision to not buy any gold. However, if you are planning on doing so for long-term investments, then it is worth considering. Profitable gold can be sold at a lower price than it was when you bought it.
We hope this article helped you to gain a better appreciation of gold as a tool for investment. Before making any investment decisions, we strongly advise that you thoroughly research all options. Only after doing so can you make an informed decision.
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