In early January, Tether’s market supply was below $93 billion, but the company’s assets were valued at $95.2 billion.
However, this week marks the first time in history that the stablecoin’s market supply has exceeded $95 billion, as highlighted by Glassnode analysts.
As of January 17, USDT’s capitalization reached $95.039 billion, marking a significant increase in its dominance in the market for dollar-pegged digital currencies from 50% to 71% since 2023.
The growth of USDT adoption in Asian markets has also been observed, although the United Nations has reported that this digital asset is increasingly being used by criminal communities for money laundering.
This increase in market supply can be attributed to a shift from the USDC token, with its supply decreasing from $48 billion to $27 billion over the past year.
The new CEO of Tether, Paolo Ardoino, has stated that the company’s excess reserves now exceed $3 billion, providing assurance that it has enough resources to fulfill its obligations to all investors.
