According to data, the market capitalization for stablecoin giant, tether has reached $78.2 trillion. Over the last 30 days, tether’s market valuation grew by 5.6% and the stablecoin now represents 46% of the $168.3 billion stablecoin economy.
The Tether Market Cap Is Less Than 2 Billion away from Reaching $80 Billillion
On December 30, 2021, there’s roughly 78.2 billion tether (USDT) in circulation, according to coingecko.com’s top stablecoin by market capitalization statistics. According to Tether Limited’s transparency report published to the tether.to web portal, there’s $78.5 billion assets under management. According to metrics, tether accounts for 3.35% and 46% respectively of today’s $2.33 trillion crypto-economy and the $168.3 million stablecoin economies.
Tether has experienced tremendous growth over the course of its history. For instance, on September 13, 2015, tether’s market capitalization was $451,600 and the jump to $78.2 billion is a whopping 17,327,227% increase in just over six years. USDC (US Dollar Coin) is the stablecoin that has a similar market valuation, at $42.1 Billion. This increase of 9.7% was recorded last month. USDC represents 1.8% of the $2.33 trillion market cap and is around 52.68% or just over half the size of tether’s market valuation.
These two stablecoins together represent 71.82% in the stablecoin economic and about 5.15% of $2.33 Trillion crypto currency. There are four stablecoin protocols occupying the top 10 positions in stablecoin market values. Their valuations range from 12.9% up to 42.9%. BUSD issued by Binance jumped 12.9%, Terra’s UST spiked 34.2%, MIM increased by 30.9% and FRAX swelled by 42.9%.
Tether’s overall valuation is 39% larger than BUSD, UST, MIM, and FRAX combined. Tether is the biggest stablecoin available today, issued on several blockchains. It also commands the highest trade volume. Tether’s 24 hour volume is more than BTC’s daily volume today with $52.8 billion in USDT trades. Bitcoin, at $25.5 billion Thursday, has less volume than Bitcoin.
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