Tether, the world’s largest stablecoin, continues to befuddle FUDers by minting its way into an exclusive club worth over $100 billion. by Macauley Peterson /. March 5, 2024 07:30 am. Satheesh Sankaran/Shutterstock modified by Blockworks. Monday registered an all-time market cap high for bitcoin, thanks to its near record high price, plus 27 months of fresh supply issuance since last cycle’s peak.. But Bitcoin wasn’t the only crypto setting records.. Tether’s USDT stablecoin finally cracked its ninth zero, and is now sitting at a circulating supply of 100,044,694,548 tethers. That’s more than 3.4x the market cap of the number two stablecoin, Circle’s USDC.. Read more: Tether prints $10B in 3 months, nears exclusive $100B crypto club. On 24-hour volume basis, tether is nearly five times bigger than its nearest rival FDUSD, which almost exclusively greases trading liquidity on the Binance exchange, per CoinGecko’s stablecoin rankings.. USDT still plays a large role on Binance, but its reach is vast, providing USD trading pairs on the overwhelming majority of the 200 or so centralized exchange worldwide.. In DeFi, USDC plays a much larger part, featured in the top pairs on all the top DEXes.. Tether CEO Paolo Ardoino, the operation’s frontman, marked the occasion, calling it “a testament to Tether’s pivotal role in reshaping the landscape of digital finance.”. “Surpassing the $100 billion market cap is not just a numerical achievement,” he said in a statement to Blockworks. “Our success is not measured solely by market capitalization but by the trust and confidence instilled in us by our customers.”. The stablecoin continues to beguile its staunchest critics who, mystified by its failure to collapse despite numerous trials both literal and figurative, over the years.. Read more: Tether is ‘unfairly maligned,’ but will eventually fail, says Nic Carter. The ultimate test of an on-chain dollar is how well it hews to its peg, and on that score USDT is solidly in the green. Tether is objectively the most stable.. And while it is likely to remain controversial, the market endorsement coupled with improved transparency has helped USDT grow into only the fifth ever crypto to reach the $100 billion mark, joining bitcoin, ether, BNB and XRP, although the latter two have slipped back below for quite some time.. Don’t miss the next big story – join our free daily newsletter.. Tags. stablecoins. Tether. USD. Newsletter. Blockworks Daily. Upcoming Events. Digital Asset Summit 2024. Hilton Metropole | 225 Edgware Rd, London. Mon – Wed, March 18 – 20, 2024. Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.. buy ticketslearn more. Day 0x. HYATT REGENCY SALT LAKE CITY. TUES, OCT. 8, 2024. Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, . . learn more. Permissionless III. Salt Lake City, UT. WED – FRI, OCTOBER 9 – 11, 2024. Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains . . learn more. recent research. Research. Wormhole is a suite of open-source, permissionless protocols used to move assets and queries across blockchains. Despite being a common misconception, Wormhole is not just a token bridge. Nevertheless, protocols can build token bridges on top of Wormhole by leveraging the cross-chain messaging provided.. by Boccaccio. more from news. Select a tab. Punk 3100 is one of nine “alien” CryptoPunks, the rarest group in the collection. by Jack Kubinec&Bessie Liu /. March 4, 2024. Ether is a commodity just up until the point it is not, or, ether is not a commodity just up until the point it is — whichever you prefer. by Jesper Johansen /. March 4, 2024. The bull-market conference was filled with good feelings but little clarity on where the crypto industry is headed next. by Jack Kubinec /. March 4, 2024. The Friday ruling was issued as a default judgment because Sameer Ramani “appears to have fled the country”. by Katherine Ross /. March 4, 2024. Bitcoin’s previous record high against the Euro was set in September 2021. by Casey Wagner /. March 4, 2024. As bitcoin ETFs grow larger and more liquid, due diligence teams at wirehouses and other investment firms are more likely to clear them, Bitwise researcher says. by Ben Strack /. March 4, 2024