Tether's stablecoin, USDT, has for the first time surpassed a market capitalization of $150 billion, highlighting its growing influence in the market. This year alone, USDT's market cap has increased by over $11 billion.
Growth of USDT Capitalization
Tether celebrated this milestone on its X page (formerly Twitter). The post reads: > 'Born in 2014, Tether didn’t just launch USD₮ — it launched the entire stablecoin industry. Today, USD₮ is trusted by 400+ million people & powers the digital economy.' As a result, USDT's market share in the stablecoin sector has increased slightly to 62%.
Overall Status of the Stablecoin Sector
The stablecoin sector has reached an all-time high of $242.81 billion, marking a 3.75% increase over the last 30 days. According to Defillama, BlackRock USD (BUIDL) has emerged as the fastest-growing stablecoin, with a market cap exceeding a billion dollars. In the past month, the circulating supply of BUIDL grew by 19.30%.
Large Companies Investing in Stablecoins
Major companies are starting to adapt their services toward stablecoins as they gain market share. Fintech company Stripe recently launched a stablecoin account for businesses in 101 countries. PayPal’s PYUSD stablecoin has also seen significant growth and is approaching a $1 billion market cap.
The stablecoin market continues to grow, indicating increased interest from both users and major financial organizations. The success of USDT underscores the importance of stablecoins within the global financial ecosystem.
