Tether's USDT stablecoin has reached a new all-time high market cap of over $83 billion, solidifying its position as the dominant stablecoin in the market. This comes in a year where other stablecoin issuers are struggling due to regulatory issues. Binance CEO Changpang Zhao drew attention to BUSD, a Binance stablecoin issued by Paxos, which is fully regulated and capped at a $23 billion market cap. Meanwhile, competitors such as Circle's USDC have seen a decline in market cap after reaching an all-time high in June 2022, while USDT has managed to bounce back with a higher market dominance.
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Tether's USDT Stablecoin Reaches New All-Time-High Market Cap Despite Regulatory Scrutiny and Competitor Struggles
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