🔥 USDT capitalisation hits another high
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Tether's USDT Stablecoin has reached a new market capitalisation milestone, surpassing its previous all-time high of $83.2bn, a sign of strong investor demand for the stablecoin despite a decline in cryptocurrency activity.
USDT is currently issued on 13 blockchains, including Ethereum, Solana, Avalanche and others. However, most of its supply - $46.1bn - comes from Tron. Since the beginning of 2023, its volume has increased by $9bn.
Analysts suggest that market makers on centralised exchanges such as Binane and OKX prefer Tron over Ethereum because of cheaper and faster transactions. Tether representatives add that Tron is popular in emerging markets for the same reasons.
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