Tether follows BTC, ETH’s footsteps – How do you think it will turn out?

achieved a historic feat last week after it hit $100 billion in market cap for the first time ever. With this, it became the third cryptocurrency to enter the exclusive club, withAccording to AMBCrypto’s analysis of Glassnode’s data, USDT’s market cap was 22% higher than at the peak of 2021’s bull market. The increasing market cap of the industry’s bellwether implied strong capital inflows into the market, and therefore a clear bullish sentiment.

Launched in July last year, FDUSD has been aggressively promoted by Binance through its zero-fee trading programs. The impact has been such that it was the second most-traded stablecoin in 2024 with a market share of more than 21%. It was also theOne way of looking at this was that FDUSD’s rise helped correct the imbalance in the stablecoin market to a certain degree.

As things stand, USDT still has a dominant share of the market but the shrinking pie reflected the emergence of other players in the landscape.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance. He prefers DC over Marvel, cats over dogs and Hyderabadi Biryani over Kolkata Biryani.

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