{"id":643754,"date":"2024-09-22T12:00:42","date_gmt":"2024-09-22T12:00:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=643754"},"modified":"2024-09-22T09:05:35","modified_gmt":"2024-09-22T09:05:35","slug":"tether-usdt-surges-with-massive-inflows-closing-in-on-historic-120-billion-market-cap-milestone","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/tether-usdt-surges-with-massive-inflows-closing-in-on-historic-120-billion-market-cap-milestone\/","title":{"rendered":"Tether (USDT) Surges With Massive Inflows, Closing In On Historic $120 Billion Market Cap Milestone"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Tether (USDT), the world&#8217;s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now close to achieving a significant milestone. Recent data shows a <\/span><a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/228-million-in-xrp-whales\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">massive influx of money <\/span><\/a><span style=\"font-weight: 400\">into the crypto industry in the past week, with over $1 billion going into stablecoins.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/solana-jumps-10-as-fed-eases-rates-analysts-eye-even-higher-gains\/\" target=\"_blank\" rel=\"noopener \">Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains<\/a><\/div>\n<p><span style=\"font-weight: 400\">Naturally, most of this inflow has gone into Tether (USDT), pushing its market cap closer to an unprecedented $120 billion.<\/span><\/p>\n<h2><b>Tether (USDT) Leads The Stablecoin Market<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Stablecoins are one of the innovative applications of blockchain technology. Their use cases have grown over the years from trading other cryptocurrencies to a growing use in lending platforms and payments for goods and services. The stablecoin market has witnessed massive growth since the beginning of the year. This growth has been largely driven by increased investments in the crypto industry since the beginning of the year, contributing to their adoption.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/app.intotheblock.com\/perspectives\/stablecoins\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">data from IntoTheBlock<\/span><\/a><span style=\"font-weight: 400\">, the stablecoin market had a total market cap of $122 billion in October 2023. However, the bull run since then has pushed the total market cap to over $169 billion in September 2024, representing an increase of 38.5%. Furthermore, data shows that the inflow has increased by 1.71% from last month.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the <\/span><a href=\"https:\/\/bitcoinist.com\/tethers-usdt-recognized-as-property-by-uk-court-what-this-means-for-the-stablecoin\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">helm of the stablecoin market is Tether<\/span><\/a><span style=\"font-weight: 400\">, which has the largest share of the market cap. As of this writing, Tether\u2019s market cap sits just shy of the $120 billion mark, with a consistent flow of new capital pouring into the stablecoin. Particularly, Tether currently has a market cap of $119 billion, representing a 70.4% stake among all stablecoins. USDC, the second-largest stablecoin, comes in at a current market cap of $35.88 billion.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-643755\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/a_e5a70c.png?resize=504%2C327\" alt=\"\" width=\"504\" height=\"327\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/a_e5a70c.png?w=504 504w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/a_e5a70c.png?w=460 460w\" sizes=\"(max-width: 504px) 100vw, 504px\"><\/p>\n<p><span style=\"font-weight: 400\">This growth has been largely due to USDT\u2019s ability to maintain its value pegged to the U.S. dollar over the years, making it an attractive option for traders seeking stability amid market turbulence.\u00a0<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/Quh9y7wt\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">USDT market cap currently at $119 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<h2><b>What Lies Ahead For Tether And Stablecoins?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The influx of capital into the stablecoin sector highlights the growing interest in stable digital assets, especially with growing concerns of inflation and the weakening of fiat currencies in developing countries. At this rate, Tether dominance among stablecoins is set to keep growing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Just last week, the Tether Treasury <\/span><a href=\"https:\/\/x.com\/martypartymusic\/status\/07592030\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">minted <\/span><\/a><span style=\"font-weight: 400\">$1 billion USDT on the Ethereum blockchain and another $100 million USDT on the Tron blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, other lower market cap stablecoins have also been benefiting from this interest surge in stablecoins. One of these is First Digital USD (FDUSD), whose market cap has seen an increase of 47% in the past 30 days and now stands at $2.94 billion.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/catizen-cati-soars-10-following-multiple-exchange-listing\/\" target=\"_blank\" rel=\"noopener \">Catizen (CATI) Soars 10% Following Multiple Exchange Listings<\/a><\/div>\n<p><span style=\"font-weight: 400\">Adding to this momentum is Ripple, the company behind XRP. Ripple recently announced plans to enter the stablecoin space with its Ripple USD (RUSD) stablecoin with plans to connect global financial firms and institutions. Given Ripple\u2019s established presence in the global banking sector, RUSD is expected to experience significant growth after its launch.<\/span><\/p>\n<p><em>Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether (USDT), the world&#8217;s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now close to achieving a significant milestone. Recent data shows a massive influx of money into the crypto industry in the past week, with over $1 billion going into stablecoins. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains Naturally, most of this inflow has gone into Tether (USDT), pushing its market cap closer to an unprecedented $120 billion. Tether (USDT) Leads The Stablecoin Market Stablecoins are one of the innovative applications of blockchain technology. Their use cases have grown over the years from trading other cryptocurrencies to a growing use in lending platforms and payments for goods and services. The stablecoin market has witnessed massive growth since the beginning of the year. This growth has been largely driven by increased investments in the crypto industry since the beginning of the year, contributing to their adoption.\u00a0 According to data from IntoTheBlock, the stablecoin market had a total market cap of $122 billion in October 2023. However, the bull run since then has pushed the total market cap to over $169 billion in September 2024, representing an increase of 38.5%. Furthermore, data shows that the inflow has increased by 1.71% from last month. At the helm of the stablecoin market is Tether, which has the largest share of the market cap. As of this writing, Tether\u2019s market cap sits just shy of the $120 billion mark, with a consistent flow of new capital pouring into the stablecoin. Particularly, Tether currently has a market cap of $119 billion, representing a 70.4% stake among all stablecoins. USDC, the second-largest stablecoin, comes in at a current market cap of $35.88 billion. This growth has been largely due to USDT\u2019s ability to maintain its value pegged to the U.S. dollar over the years, making it an attractive option for traders seeking stability amid market turbulence.\u00a0 What Lies Ahead For Tether And Stablecoins? The influx of capital into the stablecoin sector highlights the growing interest in stable digital assets, especially with growing concerns of inflation and the weakening of fiat currencies in developing countries. At this rate, Tether dominance among stablecoins is set to keep growing.\u00a0 Just last week, the Tether Treasury minted $1 billion USDT on the Ethereum blockchain and another $100 million USDT on the Tron blockchain. Interestingly, other lower market cap stablecoins have also been benefiting from this interest surge in stablecoins. One of these is First Digital USD (FDUSD), whose market cap has seen an increase of 47% in the past 30 days and now stands at $2.94 billion.\u00a0 Related Reading: Catizen (CATI) Soars 10% Following Multiple Exchange Listings Adding to this momentum is Ripple, the company behind XRP. Ripple recently announced plans to enter the stablecoin space with its Ripple USD (RUSD) stablecoin with plans to connect global financial firms and institutions. Given Ripple\u2019s established presence in the global banking sector, RUSD is expected to experience significant growth after its launch. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":643757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,15241,4100,10263],"class_list":["post-643754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-stablecoins","tag-tether","tag-usdt"],"acf":[],"yoast_head":"\n<title>Tether Closing In On Historic $120 Billion Market Cap Milestone<\/title>\n<meta name=\"description\" content=\"Tether (USDT), the world&#039;s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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