Tether's Dominance Soars: Market Share and Revenue Surge
CryptoNewsTerminal Staff16 Sep, 2024
Tether's Dominance Soars: Market Share and Revenue Surge
Tether, the leading stablecoin, has seen a significant surge in its market share and revenue over the past two years. According to data from Cointelegraph, Tether's market share has jumped by 20 percentage points to 75%, making it the dominant player in the stablecoin market. This growth solidifies Tether's position as the most widely used stablecoin, with a market capitalization of $118 billion. Furthermore, Tether has reportedly generated an impressive $400 million in revenue over the past 30 days. This revenue stream is primarily driven by Tether's role as an intermediary for cryptocurrency trading and cross-border payments. As the demand for stablecoins continues to grow, Tether is well-positioned to maintain its leading position and capitalize on future growth opportunities.
