If USDT on the TON blockchain were an independent stablecoin, it would rank 8th in market capitalization among stablecoins.

USDT on TON was launched on April 18, and its market capitalization is now $580 million.

I remember when people predicted the collapse of USDT and called it the next black swan in the market. However, it’s hard to imagine the bankruptcy of such a large company. The consequences for the market would be catastrophic. I doubt this will ever happen.