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:
- Tether has also made significant venture capital bets in the Bitcoin mining space as well as in purchasing AI computing hardware
