Tethers USDT Dominance Surges by 20 Reaching 75 Market Share within Two Years

Tether’s US dollar-backed stablecoin now dominates the majority of the stablecoin market, capturing two-thirds of the total market share through widespread adoption over the past couple of years.
According to Token Terminal, Tether’s market share for its stablecoin USDT has increased by more than 20% in the last two years, giving it control over 75% of the entire stablecoin market.
Stablecoins serve as the primary gateway for individuals to enter the world of cryptocurrencies. The growing market capitalization of stablecoins indicates a rising interest from investors to purchase digital assets.
In recent times, Tether, the issuer of the largest stablecoin in the world, has generated approximately $400 million in revenue in the 30-day period leading up to September 16, as reported by Token Terminal.
This surge in revenue follows a record-breaking first quarter for Tether, where it earned a profit of over $4.5 billion in the year 2024. Notably, a significant portion of this profit, around $3.52 billion, was gained through the firm’s investments in Bitcoin and gold, while only $1 billion was attributed to operating costs.
These encouraging figures come at a time of remarkable growth for Tether. Just recently, the stablecoin issuer appointed Jesse Spiro, the former head of regulatory relations at PayPal, as its new head of government affairs on September 13.
Tether’s USDT balance on cryptocurrency exchanges reached an all-time high of $20.339 billion on August 13, highlighting the increasing interest of investors in deploying stablecoins into digital assets.
Historically, Tether’s balance on exchanges has shown growth during both bearish and bullish market conditions. During bearish periods, the rise in USDT reserves often indicates traders converting volatile cryptocurrencies into stablecoins for safety amidst market uncertainty. Conversely, during bullish markets, the accumulation of USDT may suggest traders stockpiling stablecoins to use for purchasing cryptocurrencies when prices dip.
As the largest stablecoin issuer globally, Tether has experienced significant growth over the past couple of years. The company aims to expand its workforce to 200 employees by mid-2025, with a particular focus on strengthening its compliance team.