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<a href="https://bitcoinworld.co.in/tethers-usdt-market-cap-surpasses-100b-mark-sets-new-stablecoin-record/" title="Tether’s USDT Market Cap Surpasses $100B Mark, Sets New Stablecoin Record" rel="nofollow"></a>
Tether’s USDT stablecoin market cap exceeded the $100 billion mark today, setting a significant benchmark. 
As the first stablecoin to achieve this scale, USDT’s distribution has increased by over 9% from the beginning of the year, driven by a surge in demand for Bitcoin, which reached $66,000 today for the first time since November 2021.&nbsp; 
Tether’s position as the most frequently traded cryptocurrency worldwide has been cemented as part of the milestone. 
The peak in circulation reached $100.2 billion around 8:10 a.m. GMT on Monday, as per CoinGecko, though it later adjusted to approximately $99.6 billion.&nbsp; 
<figure id="attachment_67489" aria-describedby="caption-attachment-67489" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-67489" src="https://bitcoinworld.co.in/wp-content/uploads/Tether-Market-Cap-531x300.webp" alt="" width="673" height="380" srcset="https://bitcoinworld.co.in/wp-content/uploads/Tether-Market-Cap-531x300.webp 531w, https://bitcoinworld.co.in/wp-content/uploads/Tether-Market-Cap-768x434.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/Tether-Market-Cap.webp 853w" sizes="(max-width: 673px) 100vw, 673px">
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 Tether Market Cap
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Additionally, there was a moment when the token’s value exceeded $1. Attempts to obtain comments from Tether representatives were not immediately answered. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/floki-gains-300-over-the-past-week-after-community-approves-token-burn-proposal/" aria-label="“FLOKI Gains 300% Over the Past Week After Community Approves Token Burn Proposal” (Edit)">FLOKI Gains 300% Over the Past Week After Community Approves Token Burn Proposal</a> 
According to a January attestation, Tether’s declared reserves for its USDT stablecoin climbed to $97 billion in December, with more than 76% held in short-term US Treasury bills.&nbsp; 
The increased yields on securities have significantly enhanced Tether’s financial gains over the last year. 
In December, the company revealed an excess capital of $2.85 billion allocated to investments in sectors like industry research and Bitcoin mining.&nbsp; 
With plans to further invest in these areas in 2024, Tether CEO Paolo Ardoino announced in November the intention to dedicate approximately $500 million to Bitcoin mining projects alone. 
Tether currently <a href="https://defillama.com/stablecoins">dominates</a> 70% of the stablecoin market, with its nearest competitor, Circle’s USDC, only accounting for 19%.&nbsp; 
Circle’s Policy and Regulation Chief scrutinized Tether recently at a House Financial Services Committee session, asking Congress to take more strict actions against the leading stablecoin provider.&nbsp; 
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The post <a href="https://bitcoinworld.co.in/tethers-usdt-market-cap-surpasses-100b-mark-sets-new-stablecoin-record/">Tether’s USDT Market Cap Surpasses $100B Mark, Sets New Stablecoin Record</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Tether’s USDT Market Cap Surpasses $100B Mark, Sets New Stablecoin Record

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