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Tether's USDT Stablecoin Market Cap Surges to $81.5 Billion Despite Regulatory Uncertainty

Tether's USDT stablecoin market cap has reached $81.5 billion, close to its all-time high of $83.4 billion. Its market share stands at 63%, its highest point in two years. Circle's USD Coin and Paxos-issued Binance USD saw a disproportionate amount of on-chain value redeemed for dollars, contributing to Tether's surge in market share.

Tether has minted $15 billion in new USDT since the start of 2023, with over a billion USDT minted on Thursday. The tokens mainly reside on Tron, and Tether called a recent report on its activities "outdated, inaccurate, and misleading."

Tether USDt Tether USDt $1.00
-0.02%
USDT Tether stablecoin Paxos Circle
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