In early January, the market supply of the Tether (USDT) stablecoin reached $92.631 billion. Since mid-last year, its capitalization has been rapidly increasing. Tether values its assets at $95.2 billion, confirming its strong financial stability, as the USDT issuer maintains substantial reserves.
VanEck's strategist, Gabor Gurbach, notes that in the spring of 2017, USDT's capitalization was less than $100 million, but some analysts, including himself, predicted that the stablecoin's capitalization would reach $100 billion in the coming years. Since 2018, its capitalization has grown by 6560%. Most of Tether's capital is held in the form of cash, treasury bills, and short-term deposits.
The total capitalization of all stablecoins amounts to $132 billion, which represents approximately 7.2% of the total value of all digital currencies.
Comments