Tether Celebrates 10 Years with $120B Market Cap and 350M Users
Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...
Tether marked its 10th anniversary on Monday, celebrating a market capitalization nearing $120 billion with over 350 million users globally.
Tether Celebrates 10 Years of Global Adoption and Stablecoin Dominance with Over 350 Million Users Worldwidehttps://t.co/FDwdUZf6BZ
USDT, the first stablecoin backed by the U.S. dollar, was launched by Tether in 2014.
Since then, it has steadily expanded, gaining traction in regions with less developed financial systems and across major blockchain platforms like Ethereum and Tron.
According to a statement by Tether, the company launched USDT, the first U.S. dollar-pegged stablecoin, in 2014.
Over the past decade, USDT has grown substantially, particularly in regions with developing financial systems, and across various blockchain networks like Ethereum and Tron.
According to a Monday statement from the company, USDT has seen a steady rise in adoption, with a 24% increase in new users over the past 12 months and a 50% increase in the previous year.
With multi-chain support across blockchains like Ethereum and Tron, USDT has reached a diverse global audience, particularly in regions with limited financial infrastructure.
Beyond its growing user base, Tether has fortified its position in the market through significant financial reserves.
As of Q2 2024, the company held over $97 billion in direct and indirect exposure to U.S. Treasuries, which enhances the security and reliability of its product.
Tether has also ventured into other sectors of digital finance, providing new services aimed at supporting
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