Tether USDT’s market share rises 20%, reaching 75% in two years

Thanks to its significant expansion over the past two years, Tether, a stablecoin denominated in US dollars, now controls two-thirds of the entire stablecoin market.

According to Token Terminal, Tether USDT's share of the stablecoin market has grown by more than 20% over the past two years, and today it controls more than 75% of the entire stablecoin market.

The online data platform noted in its publication dated September 16:

"Over the past 2 years, Tether has increased its market share from 55% to 75%. 1) The total supply of Tether in USDT is 118 billion dollars. 2) Tether's market share is 75%."

Stablecoins are the main means of transition from fiat currency to cryptocurrency. The constant increase in the market capitalization of stablecoins indicates that investors are more and more actively trying to buy this cryptocurrency.

Over the past 30 days, Tether has increased its revenue to $400 million

Tether, the leader of the world market of stablecoins, for 30 days as of September 16, according to Token Terminal, generated income for about $400 million.

In the first quarter of 2024, Tether earned a record profit of more than $4.5 billion, but the growth of income is observed even now, in the second quarter.

It is worth noting that the largest part, or $3.52 billion, of this profit, was received at the expense of the company's financial income thanks to Bitcoin and gold, while only $1 billion of the profit was received from operating expenses.

The latest data appeared during a period of significant growth for the stablecoin issuer, almost immediately after Tether appointed Jessy Spiro, the former head of PayPal's regulatory relations department, as its new head of government relations on September 13.

USDT exceeded a record $20.3 billion on exchanges

As of August 13, the USDT Tether balance on cryptocurrency exchanges reached a record high of $20.339 billion, which indicates that investors are willing to invest these stablecoins in cryptocurrency assets.

It has traditionally happened that the balance of Tether on the stock exchanges increased both during bear and bull markets.

In "bearish" conditions, the growth of USDT reserves often signals that traders are trying to convert unstable cryptocurrencies into stablecoins, trying to protect themselves in the conditions of market uncertainty. Accordingly, during bull markets, the accumulation of USDT may indicate that traders are hoarding stablecoins to use them to buy cryptocurrencies as soon as their prices begin to decline.

The world's largest issuer of stablecoins has demonstrated significant growth over the past two years. By mid-2025, Tether plans to double its workforce to 200 employees, with a particular focus on expanding the compliance team.