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Crypto

Will Tether Be The First Stablecoin To Reach $100 Billion?

January 21, 2024
•
x min read

Tether is the most dominant stablecoin in crypto. And now, it’s getting close to a historic moment.

‍What’s happening:‍

  • Tether, the most popular stablecoin in all of crypto, has recently seen its market capitalization rapidly climb and is poised to become the first stablecoin to ever reach a value of $100B USD

By the numbers:‍

  • The only digital assets to ever reach $100B USD in market capitalization are Bitcoin, Ethereum, XRP and Binance Coin
  • Tether’s market capitalization currently sits at approximately $95B USD
  • Tether is also one of the largest holders of Bitcoin in the world, with ownership of roughly 66,400 Bitcoin
  • In the last 90 days alone, Tether has seen it’s market capitalization grow by more than $10B USD

Going deeper:‍

  • Stablecoins have been heating up recently, with USDC issuer Circle announcing their plans for an IPO on a major US stock exchange
  • PayPal became the first ever publicly traded company to launch their own stablecoin and has recently been seeing major adoption within the United States

The intrigue:‍

‍

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