USDT Stablecoin Market Capitalization Surpasses $100 Billion

Tether's stablecoin, USDT, hit the $100 billion market capitalization threshold for the first time in history on Monday, according to data. USDT has grown by $2 billion over the past week, benefiting from increased demand for cryptocurrency trading liquidity. According to Tether's website, while the circulating supply of USDT tokens is around 99.5 billion, the token's price on some exchanges is trading at a slight premium to the $1 peg, enough to push the market capitalization above that level in a short period of time.