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Tether’s Circulating Supply Reaches 10-Month High of $74B

Tether’s USDT supply reached 74 billion for the first time since May 2022, according to CryptoSlate’s data.

Over the past 30 days, Tether’s supply added roughly 5 billion as its stablecoin rivals like Binance USD (BUSD) and USD Coin (USDC) faced regulatory scrutiny and banking issues. This resulted in investors ditching these embattled stablecoins for the relative safety of USDT.

For context, USDT’s supply grew by 10% in the current year while USDC, BUSD, and DAI supplies shrank.

Meanwhile, USDT’s market dominance has reached 56.4% — its highest point since July 2021.

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