Tether's 2024 Growth: Stablecoin Market Dominance and Record Revenues

Tether dominates with 75% market share, $118B supply, and $5.2B profit in 2024. We're proud to adopt it as the official cryptocurrency at tether.bet!

Tether, the world’s largest stablecoin, has achieved remarkable results over the past two years.

What’s next for USDT in the dynamic and evolving crypto market?

What does this Tether’s growth signify?

A new report by Token Terminal reveals that Tether’s market share in the stablecoin sector has risen from 55% to 75%, marking an impressive 20% growth during this period.

Token Terminal’s report states that USDT’s supply currently stands at a staggering $118 billion.

In the last 30 days alone, Tether is estimated to have generated $400 million in revenue, making it by far the biggest player in the market and a crucial tool for investors transitioning between fiat currencies and cryptocurrencies.

Smashing Records in 2024

Tether is poised to finish 2024 with numerous records. With a supply of $118 billion and smart investments in cryptocurrencies as well as gold, the company has reported record figures.

The first-quarter 2024 report shows a profit of $5.2 billion!

Of this, $3.52 billion came from Tether’s investments in Bitcoin and gold, while an additional $1 billion came from operating profits, according to Coin Journal.

Tether’s Unmatched Reliability

Tether maintains a 1:1 exchange rate with the US dollar, providing stability to users.

Unlike other cryptocurrencies, Tether’s value remains relatively stable, reducing the risk of fluctuation when withdrawing winnings from betting platforms.

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The Bright Future of Tether

Tether continues to expand. In June, the company announced a staggering $1 billion investment plan over the next 12 months.

Tether CEO Paolo Ardoino shared these plans in an interview with Bloomberg, highlighting the company's focus on alternative financial infrastructure for emerging markets, artificial intelligence (AI), and biotechnology.

Over the past two years, Tether has invested approximately $2 billion in AI and biotechnology.

Additionally, the company has hired Jesse Spira, PayPal’s former Head of Regulatory Relations, further demonstrating Tether’s commitment to long-term stability and regulatory compliance.

Traders Trust Tether

Coin Journal reports that in August 2024, Tether reached a record $20.3 billion balance on crypto exchanges. This shows that traders trust and stockpile USDT for potential market opportunities.

Investors often convert their volatile crypto assets into stablecoins like USDT to protect their portfolios from market uncertainty.

How Does Tether Work?

Stablecoins like Tether are pegged to real-world currencies (fiat), such as the US dollar or euro. They offer numerous benefits to crypto trading by providing liquidity and protection from the volatility of the cryptocurrency market.

While cryptocurrencies like Bitcoin and Ethereum allow users to bypass traditional payment intermediaries, their prices are notoriously unpredictable, often fluctuating dramatically in short periods.

Stablecoins like Tether do not experience such volatility. Instead, they remain closely aligned with the value of the fiat currency they are pegged to, making them a safe haven in the world of cryptocurrency.

Advantages of Betting with USDT

Tether, one of the most traded cryptocurrencies, offers several advantages in the online betting sector. Tether’s stable 1:1 exchange rate with the US dollar ensures that users experience minimal fluctuation when withdrawing their winnings from betting platforms.

Tether: The Official Cryptocurrency of tether.bet

tether.bet has adopted Tether as its official cryptocurrency, taking advantage of its stability and efficiency.

By leveraging Tether’s benefits as a stablecoin, tether.bet aims to enhance the betting experience for its users.

So join us today, ride on the wave of future and bet with USDT at tether.bet - the largest stablecoin sportsbook and casino!