This week the stablecoin giant tether reached a market capitalization of roughly $78.2 billion according to data. Over the last 30 days, tether’s market valuation grew by 5.6% and the stablecoin now represents 46% of the $168.3 billion stablecoin economy.
Tether’s market cap is under $ 2 billion, reaching $ 80 billion
As of December 30, 2021, there were approximately 78.2 billion tether (USDT) in circulation, according to the most stable market cap statistics from coingecko.com. According to Tether Limited’s transparency report posted on the tether.to web portal, there are $ 78.5 billion in assets under management. The measurements show that tether represents 3.35% of the $ 2.33 trillion crypto economy today and 46% of the stable $ 168.3 billion economy.
Tether has seen massive growth during its lifetime. For instance, on September 13, 2015, tether’s market capitalization was $451,600 and the jump to $78.2 billion is a whopping 17,327,227% increase in just over six years. The only stablecoin with a comparable market valuation is usd coin (USDC) with $42.1 billion, up 9.7% since last month. USDC represents 1.8% of the $2.33 trillion market cap and is around 52.68% or just over half the size of tether’s market valuation.
The two stablecoins combined make up 71.82% of the entire stablecoin economy and about 5.15% of the $ 2.33 trillion crypto economy. Four stablecoin protocols in the top ten positions in the stablecoin market valuations rose 12.9% to 42.9%. The BUSD issued by Binance jumped 12.9%, Terra’s UST by 34.2%, MIM by 30.9% and FRAX by 42.9%.
Tether’s overall valuation is 39% larger than BUSD, UST, MIM, and FRAX combined. Besides being the largest stablecoin in existence today issued across several blockchains, Tether commands the most trade volume as well. Tether’s 24 hour volume is more than BTC’s daily volume today with $52.8 billion in USDT trades. Bitcoin has less than half that volume with $25.5 billion on Thursday.
