Tether’s USDT hits 75% market share amid record exchange balances

Tether’s USDT stablecoin now controls more than 75% of the stablecoin market, marking a substantial increase from 55% in 2022.

In another sign of Tether’s rising dominance, the USDT balance on crypto exchanges hit a record $20.3 billion in August. The growth reflects the increasing demand for USDT as a trusted intermediary between fiat currencies and digital assets.