Tether Surpasses $93 bn Valuation
Tether (USDT) has surpassed $93 billion in market capitalization, thanks to a recent 1 billion USDT issuance on the Ethereum network.
This growth is part of an aggressive minting strategy, with a $2 billion minting event signaling investor confidence and potential market price increases.
USDC, backed by Circle, experienced a downturn due to the U.S. banking crisis in March 2023. Coinbase is working to expand USDC’s footprint, partnering with platforms like Yellow Card for African market adoption.
The Tron network has also played a significant role in Tether’s growth, as USDT on Tron is increasingly adopted as a global crypto payment system.
(With inputs from Shikha Singh)
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