Most of the main digital assets in the crypto market, which is always changing, are seeing big gains. Tether's USDT newest milestone is a good example of this. The well-known stablecoin has already crossed a new line in terms of total market value, solidifying its status as the leader in the field.

A $160 billion supply mark for Tether's USDT

Tether's USDT has officially broken the $160 billion level in circulation, which is a momentous deal for the world's largest stablecoin. This is a big deal since the whole crypto market is becoming better, with Bitcoin and Ethereum setting records.

USDT is still an important part of both regulated and decentralized financial ecosystems. This success shows that there is a growing need for liquidity, stability, and cross-border usefulness in the digital asset space.

Recently, Paolo Ardoino, the CEO of Tether, wrote about this milestone on the X (previously Twitter) platform. The CEO says this is "a statement of the unrivaled utility of USDT as the digital dollar for billions of people living in emerging markets and developing countries."

So far, Ardoino has thanked the community for this amazing new milestone. Tether's quick growth shows that the industry is developing and that stablecoins are becoming more important as infrastructure for international cryptocurrency exchange.

Another important thing that has happened with Tether is that the amount of monthly on-chain transfers has gone up a lot. The CEO's data suggests that the stablecoin has an average monthly on-chain volume of $1 trillion.

It's important to note that the on-chain volume has been continuously expanding from around $14.8 billion to $1.1 trillion every month, which is a 7400% increase since 2020. This big jump shows how important the blockchain is as a backbone for liquidity in the crypto sector.

There has also been a big increase in the number of active users and their involvement. Ardoino's article said that Tether's active users have grown from 2.8 million to 450 million, which is more than 160 times what it was in 2020.

Even if the market value, on-chain transfer volume, and number of active users have all grown a lot, the stablecoin is still close to losing its market share. This is because regulated stablecoins like Ripple's RLUSD, which is tied to the dollar, are becoming more well-known in the crypto and financial worlds.

Regulations that look at how digital assets and conventional finance work together are being made all around the world right now. These rules might change the way USDT works. This is because the stablecoin could be avoiding requirements from the government to be clear about how it maintains its assets.

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