USDT’a Market Caps Reaches New High

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The total market value of Tether (USDT) has reached a new record at $83.4 billion, surpassing its previous record from May 2022 of $83.2 billion.

Paolo Ardoino, CTO of the firm, commented on the development and said that USDT allows access to financial independence without access to banking services and allows people in emerging markets to maintain purchasing power despite devaluation of their local currency.

In March, USDT capitalization exceeded its closest competitor USDC by double, resulting in a decrease of USDC’s market share to 23.1% and an increase of USDT’s market share to 65.9%.

Ardoino also announced that due to its success, Tether is considering new investments to capitalize on its high profitability.