The Tether USD stablecoin circulating supply is close to $100 billion.

USDT

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, the world’s largest stablecoin, reached a circulating supply of nearly 100 billion on Monday. The supply of stablecoins pegged to the dollar is currently at an all-time high of approximately $99.5 billion. The Block’s pricing page.

Market capitalization, which is supply multiplied by price, topped $100 billion at one stage as values ​​fluctuated. Tether claims this. Website All USDT tokens are pegged to the US dollar at a 1:1 ratio.

This year, major events such as the launch of a spot Bitcoin ETF in the US have led to an increase in Tether supply along with the rise in the Bitcoin and general cryptocurrency markets. CoinMarketCap data.

With its growth, Tether has further distanced itself from Circle’s second-largest stablecoin. USDCThe circulation volume amounts to 28.9 billion.

Tether is record net profit According to the certification report, it had revenue of $2.9 billion in the fourth quarter of last year, with most of the gains coming from the valuation of the company’s U.S. Treasury, Bitcoin and gold holdings.

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