USDT Market Cap Reaches $120 Billion: How Tron and Ethereum Played a Role

• USDT’s market capitalization has grown by over $28 billion up to now 9 months.
• Tron dominates USDT transaction quantity, accounting for over 70%.

The USDT market cap has reached a powerful $120 billion, reaffirming its dominance as the biggest stablecoin by market cap.

Regardless of rising stablecoin competitors, USDT continues to develop, particularly on the Ethereum and Tron networks, the place it’s seeing vital buying and selling quantity and consumer exercise.

USDT’s market capitalization rises to over $120 billion

A latest evaluation of the USDT market capitalization Glass junction has proven outstanding progress in latest months.

Supply: Glassnode

In the beginning of the yr, its market capitalization was roughly $92 billion. On the time of writing, that determine has risen to over $120 billion. Which means USDT has added greater than $28 billion to its market capitalization in simply 9 months, reflecting sturdy demand and utilization.

USDT’s market capitalization dominates different stablecoins

In keeping with information from InTheBlokUSDT ranks first in market capitalization and leads in buying and selling quantity amongst stablecoins.

Most transactions happen on the Ethereum and Tron networks, with Tron controlling over 70% of USDT’s transaction quantity.

Whereas Ethereum stays standard for USDT transactions, excessive fuel charges have pushed many customers to Tron, which provides decrease charges and quicker transaction occasions.

Supply: IntoTheBlock

Layer 2 options, equivalent to Arbitrum and Optimism, are additionally more and more supporting USDT transactions, contributing to its rising presence in varied blockchain networks.

USDC, USDT’s largest competitor, lags behind in market capitalization and transaction quantity, strengthening USDT’s place.

What’s subsequent for USDT?

As USDT crosses the $120 billion threshold, the stablecoin faces growing competitors from different stablecoins equivalent to USDC.

Nonetheless, with its deep liquidity, sturdy consumer base, and presence on a number of blockchains, USDT is properly positioned to take care of its dominance within the stablecoin sector.

The way forward for USDT’s progress will depend upon USDT’s capacity to satisfy evolving regulatory challenges and preserve transparency relating to its reserves. Nonetheless, with no indicators of slowing down, USDT continues to guide the stablecoin market and strengthens its place.