100 billion dollars for Tether: A monumental breakthrough in the crypto world

In the incessant hum of the crypto industry, records are broken one after another, unveiling an overflowing exuberance. But a new surprise emerges: in the realm of stablecoins, it’s celebration time. Tether, with its USDT crypto, has crossed the historic threshold of 100 billion dollars.

Tether Surpasses a Historic Milestone: 100 Billion Dollars in Market Capitalization

The appointment of Paolo Ardoino, former CTO, as the head of Tether appears to be a wise decision? Lately, the project seems to be gaining surprising magnitude, prompting JPMorgan analysts’ concern about its impact on the crypto market.

In the tumultuous universe of cryptocurrencies, one star shines brighter than ever, unveils Cointelegraph. Tether, the stablecoin giant, has crossed a historic step with a market capitalization reaching 100 billion dollars.

Since the beginning of the year, Tether’s USDT stablecoin has experienced a startling growth of 9%, propelling it to unprecedented heights. Far surpassing its closest rival, USD Coin (USDC), Tether momentarily touched the 100 billion dollar mark last March 4th, according to data from CoinGecko.

This colossal capitalization, exceeding Circle’s USDC by more than 71 billion dollars, positions Tether alongside behemoths such as British oil giant BP and e-commerce platform Shopify.

Closely linked to the US dollar, Tether is a lifeline for crypto traders in search of stability. Backed by US Treasury securities, Tether ensures a 1:1 parity with the dollar, providing a stable value in a sea of volatility.

With a record quarterly profit of 2.85 billion dollars for the fourth quarter of 2023, Tether has shown its financial solidity and its dominant position in the market. Thanks to its massive reserves and transparency, Tether continues to reign supreme in the world of cryptocurrencies.

The Cryptocurrency Market in Full Expansion

The cryptocurrency market is experiencing explosive growth, surpassing 2.542 trillion dollars in market capitalization. Driven by renewed confidence and massive inflows into Bitcoin, especially through exchange-traded funds (ETFs), the market displays exceptional vitality.

Bitcoin in particular has reached a multi-year peak of $65,083, while Ethereum has seen a 16.6% increase to stabilize at $3,502. Other major altcoins, such as Solana (SOL), Cardano (ADA), Avalanche (AVAX), and even Dogecoin (DOGE), have also recorded significant gains, contributing to a substantial rise in the market.

This performance, noticed since early December, places the crypto market ahead of giants like Amazon and Google, confirming its meteoric rise.

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