USDT sets a new record with a market cap of 160 billion USD, asserting its position as the largest stablecoin globally

Tether's USDT has just reached a historic milestone as its market capitalization surpassed 160 billion USD, marking an unprecedented record. This increase was driven by the minting of an additional 3 billion USDT on Ethereum to meet trading demand, of which 1 billion #USDT has been transferred to Binance.

Impressive growth and leading position

This milestone is further reinforced by the enormous profits from Tether's portfolio of US government bonds worth over 120 billion USD, with over 1 billion USD in profits in Q1/2025 and a record 13 billion USD in 2024. Tron is currently the blockchain holding the largest amount of USDT with 80 billion USD (51% of total supply), surpassing Ethereum due to lower fees and faster transactions.

CEO Paolo Ardoino emphasized that USDT is now the "digital dollar" for billions of people in developing countries. Since 2020, USDT's market cap has increased 34 times (from 4.7 billion USD to 160 billion USD), on-chain trading volume has increased 74 times (from 14.8 billion USD to 1.1 trillion USD/month), and the number of users has increased 160 times (from 2.8 million to 450 million wallets).

Although $USDC from Circle is expanding under the legal framework of the GENIUS Act, Tether still holds about 65% of the global stablecoin market share. Tether is fully backed by reserve assets, with 81.5% in cash or cash equivalents and 5.1% in Bitcoin. The company is also actively investing in AI, media, data centers, energy, and Bitcoin mining, with ambitions to become the largest Bitcoin miner in the world by the end of 2025.