11 months ago
1 min read
Tether (USDT) Market Cap Surpasses $83 For the First Time Since TerraUSD Collapse
Tether (USDT), the world’s largest stablecoin, has seen its market capitalization surpass $83 billion. This marks a significant recovery from the $20 billion it lost in the wake of the TerraUSD (UST) collapse in May 2022. Paolo Ardoino, the CTO of Tether, attributed the recovery to the stablecoin’s “proven resilience” and “unwavering commitment to industry-leading transparency practices.” He also noted that Tether’s “ability to weather market volatility” has solidified its reputation as a “trustworthy entity.” During the turbulent times that shook the cryptocurrency market last year, Tether and other major stablecoins witnessed a significant decline in their market capitalization as
