Tether now has 75% percent of the market share, which has increased from 50% within the past two years. In the past 30 days, the estimated revenue of Tether is $400 million. Whereas, USDT’s total supply stands at $118 billion dollars.
According to an X post shared by Token Terminal on September 16th, Tether’s total supply is now 118 billion dollars. The currency has increased its market value from 50% to 75% in the span of the last two years. Tether being one of the largest stable coin issuer has made an estimated revenue of $400 million.
ICYMI: @Tether_to has grown its market share from 55% to 75% over the past 2 years.
1) Tether's USDT supply is $118 billion
2) Tether's market share is 75%
3) Tether has made (an estimated) $400 million in revenue in the past 30 days pic.twitter.com/IFxXGY0UYg— Token Terminal | @ TOKEN2049 🇸🇬📊 (@tokenterminal) September 16, 2024
The increasing market cap of stablecoins like Tether represents the growing interest of investors into buying cryptocurrencies. As such, stablecoins make way for the fiat in the world of crypto.
Tether’s revenue reaches $400 million in the last 30 days
Tether’s chart from 16 September shared by Token Terminal shows that the stablecoin issuer made $400 million revenue until now.
Tether has been profitable since the start of 2024 netting over $4.5 billion. This indicates that the financial strategies and stablecoin operations have been working successfully.
A large part of this profit was acquired from the financial gains of the firm in Bitcoins and gold. On the other hand, the profit from the operating costs was $1 billion.
On September 13, Tether appointed Jesse Spiro as the new head of Government Affairs. Spiro was the former head of regulatory relations of Paypal. The recent data of Tether has shown significant growth since Spiro joined Tether.
Tether makes a $20.3 billion record on the crypto exchange balance
On August 13, USDT balance of crypto exchanges reached a record of $20 billion. This shows that investors are willing to use their stablecoins for other crypto investments. Tether’s balance on exchanges have simultaneously increased in both bull and bear markets.
During the bull bear market period, traders exchange unstable currencies into USTD for safety in unpredictable situations of the market. In the case of the bull market, traders stockpile USDT to exchange them as the prices for other crypto purchases decrease.
To increase the focus on compliance and regulations, Tether also plans to increase its employees to 200 by the middle of 2025.
