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Tether (USDT) Market Capitalization Close to All-Time Highs

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USDT Tether

Tether (USDT) market capitalization is again close to its all-time highs. According to CoinGecko, Tether’s market capitalization is currently at $82.81 billion, only 1.10% below its all-time high registered a few weeks ago. This shows that there is a clear interest in holding USDT and using it for multiple things. 

Tether (USDT) Market Capitalization Close to All-Time Highs

Tether’s market capitalisation continues to grow despite a deacceleration of the trend in recent months. Since the beginning of the year, USDT market capitalization has grown from $65 billion to $83 billion nowadays. This represents an increase of almost 30% in less than a year, which reflects the interest from market participants to get access to USDT payments. 

USDT Tether Market Capitalization Chart

There are several reasons why market participants want to get access to USDT. In general, USDT became popular due to its availability at multiple cryptocurrency exchanges for users to have a stable currency to trade against. Rather than using USD or other fiat currency, USDT has the advantage that it behaves like a cryptocurrency. 

Another reason that we should consider is linked to the fact that in several economies individuals use USDT to transact and to escape their local fiat currencies. In countries such as Venezuela, Lebanon, Turkey or Argentina where inflation rates are extremely high and where capital controls are very common, using a digital asset such as USDT can help local communities deal with everything much better. 

Nevertheless, there has been a lot of FUD around USDT. Therefore, it is very important to be cautious and have a diversified portfolio. It is worth pointing out that the second-largest stablecoin in the market is USDC and it has a meerkat valuation of $26 billion. 

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