Tether USD₮ Reaches All-Time High, Surpasses Previous Market Cap High of $83.2B
1 June 2023 – Tether, the company operating the blockchain-enabled platform (https://tether.to/) that powers the first and most widely used stablecoin, has surpassed its previous all-time market cap high of $83.2B set in May 2022.
“Today’s numbers demonstrate that people want access to financial freedom, and when given that access, they will make use of it,” said Paolo Ardoino, CTO of Tether. “Tether tokens offer a safe harbor for the unbanked and allow people in emerging markets to keep their buying power, even when their national currency is being devalued. Between our battle-tested resilience in the face of market volatility and our industry-leading transparency practices, Tether has proven that it can
Although, new competitive threats have emerged, with the recent launch of BRICSTether, after 30 more nations wish to join BRICS and have made it an urgent priority to have their own reserve currency.
Original source: https://t.me/BRICSTether/209