This highlights its key role in the stablecoin market, according to data from Token Terminal. In 2022, USDT’s share stood at 55%, and it has since risen to 75%, demonstrating Tether’s strengthened position against its competitors.
The total supply of USDT now exceeds $118 billion, making it the most widespread stablecoin. According to Token Terminal, the company’s revenue for the last month amounted to $400 million, confirming the high profitability of its stablecoin issuance operations. The company also recently announced the issuance of an additional 1 billion USDT tokens to meet growing demand.
USDT is minted on a wide range of blockchains, including Avalanche, Ton, EOS, Cosmos, Tezos, Solana, Polkadot, Liquid, Near, Algorand, SLP, Celo, Omni, and Kusama, allowing users to choose the most convenient network for transactions. However, the majority of USDT’s supply is concentrated on the Tron and Ethereum blockchains, with $68.8 billion and $55 billion, respectively. These two networks remain the primary platforms for USDT transactions due to their liquidity and popularity among users.
