- Tether (USDT) has officially reached the $83.2 billion market capitalization threshold, accounting for approximately 66% of the overall stablecoin market share.
- The upcoming stablecoin fight will focus not just on how to enhance profits and attract cash flow, but also on how to mitigate risks and reduce the effect of traditional finance.
Tether, the industry’s largest stablecoin, officially achieved a new record in terms of market valuation on June 1.
Tether (USDT) has now reached the $83.2 billion market cap milestone, according to the most recent data. The aforementioned achievement was announced by the stablecoin on its official Twitter account.
USDT has officially surpassed the previous record of 83.2 billion USD (established in May 2022). CTO Paolo Ardoino commented on this achievement, saying, “Today’s numbers show that users want access to financial freedom.” And once they have access to tools, they will be willing to try it. Individuals can find refuge in Tether. Despite several market changes and transparency-related obstacles, Tether has proven to be trustworthy, and clients have much appreciated the effort.”
The CEO of Binance, Changpeng Zhao, also addressed the topic of the stablecoin market and congratulated Tether on its achievements. According to data provided by Coingecko at the time of writing, the market capitalization of Tether accounted for around 66 percent of the overall market share for stablecoins. This represents around three times as many contestants as the USDC, which comes in second position.
Apart from Tether, the market for stablecoins is also going through a period of major transformation. The first is a step made by DAI to diversify its collateral holdings by utilizing Real World holdings, most notably short-term U.S. government bonds. In addition, the USDC is making an effort to lessen the potential impact that holding government bonds may have on its collateral holdings.
It is certain that the stablecoin battle that will take place over the next few years will focus not only on the next mission to improve revenues and attract cash flow, but also on how to reduce risks and minimize financial ramifications. This is because it is certain that the conflict will take place over the next few years. The main dish served in most restaurants.
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