Tether’s circulating supply reaches 10-month high of $74B

Oluwapelumi Adejumo
Oluwapelumi Adejumo

16 Mar 2023 2:22 PM

Tether USDT's supply has grown by 10% in the current year while USDC, BUSD, and DAI supplies shrank, according to CryptoSlate's data....

  • Tether's USDT supply reached 74 billion for the first time since May 2022, while its stablecoin rivals faced regulatory scrutiny and banking issues.
  • USDT's supply grew by 10% in the current year while USDC, BUSD, and DAI supplies shrank.
  • USDT's market dominance has reached 56.4% — its highest point since July 2021.
  • Tether has recently seen more whale transactions, with eight $1 billion transactions over the past year.
  • Crypto investors prefer holding USDT as against other stablecoins during market volatility.
  • Concern remains over Tether's opaque reserves despite recent faith from crypto investors.

The article presents a mix of positive and negative sentiment towards Tether. On one hand, Tether's USDT supply has grown and its market dominance has increased, while crypto investors have shown more trust in it during market volatility. On the other hand, concern remains over Tether's opaque reserves and its past controversies.

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Related Questions

What is Tether's current USDT supply and how does it compare to its stablecoin rivals?
Why have crypto investors been ditching stablecoin rivals for USDT?
How many $1 billion transactions has Tether witnessed over the past year?
Why do crypto investors prefer holding USDT during market volatility?
What concerns remain over Tether's reserves despite recent faith from crypto investors?

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