Arthur

Read

<div class="cryptonews">
 <p class="is-style-lead">In 2023, Tether’s (USDT) stablecoin <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a> increased from 50% to 71%.</p>
 <p>According to Glassnode, since the beginning of 2023, the supply of USDT stablecoin has increased by $28.7 billion. At the same time, on Jan. 14, 2024, the capitalization of USDT reached $95 billion.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14238297">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2024/01/15/2075ae49079cf38b0b5b6a375ddc2106.webp.webp">
   <img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2024/01/15/2075ae49079cf38b0b5b6a375ddc2106.webp" alt="Tether expands market share by 21% in 2023 - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Source: Glassnode
  </figcaption>
 </figure>
 <p>For comparison, USDT’s closest competitor is USDC. Like the rest of the stablecoins on this list, Circle’s token is in a recession.</p>
 <p>Since the beginning of 2023, the supply of the asset has decreased by $17.78 billion, according to Glassnode. The decline in Circle’s <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a> is due to several factors, one of which is the spring 2023 depeg caused by the collapse of Silicon Valley Bank.</p>
 <p>In early January 2024, Tether added $1 billion to USDT reserves on the Tron network again. The last time it replenished its reserves was in December 2023. Then Tether issued 1 billion USDT.</p>
 <p>The company’s new CEO, Paolo Ardoino, also called the USDT stablecoin an example of resilience and innovation. It has become a product used and trusted by “hundreds of millions of people,” he said.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">I remember when I spoke for the first time in front of a public audience about @Tether_to .<br>It was March 2020, in London, at the CryptoCompare conference.<br>The title of my speech was "Tether: a story of innovation".<br>I never did public speaking before.<br>I was excited and quite shy…</p>— Paolo Ardoino (@paoloardoino) December 26, 2023
   </blockquote>
  </div>
 </figure>
 <p>He also <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>d plans for the current year, noting that Tether plans to launch several new products and consolidate existing solutions, expressing confidence in the company’s further development via the introduction of valuable functions and new investments.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Arthur Hayes foresees banking giants overtaking Tether’s stablecoin dominance
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/tether-expands-market-share-by-21-in-2023-tbt76623.html">https://thebittimes.com/tether-expands-market-share-by-21-in-2023-tbt76623.html</a></p>

Tether expands market share by 21% in 2023

TheBitTimes

Other articles published on Jan 15, 2024

sORDINALS: Visualizing Inscriptions in Stacks with AI Artistry

Bitcoin Fear & Greed Index Plunges To Neutral Zone As BTC Tumbles After Bitcoin ETF Approvals

Polkadot’s 2024 Forecast: DOT Set to Soar Beyond $25

🚀✨ WEEKLY HODL ROUNDUP: JAN 8 - JAN 14, 2024 ✨🚀

Federal Reserve’s Rate Cut Could Spark Institutional Interest in DeFi and Stablecoins, Fidelity P...

Where Dogecoin Price is Heading By January End, $0.1 or $0.06?

Join our free newsletter for daily crypto updates!