Stablecoin Market Domination: Tether Controls 60-70% Market Share, Have You Bought USDT?

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Bittime - Tether is the issuer of the USDT stablecoin , has emerged as a dominant force in the stablecoin market, surpassing global financial institutions and financial institutions in terms of size and profitability. Despite facing controversy, Tether continues to shape the digital currency landscape.

With a market capitalization of US$98 billion, Tether has surpassed major Malaysian banks and even global financial giants like PayPal in terms of size. 

Back in 2023, Tether reported a staggering profit of US$6.2 billion, surpassing the revenues of well-known companies like Blackrock and Goldman Sachs, all with a modest workforce of 60 employees. 

Founded in 2014, Tether quickly rose to command a 60-70% share of the stablecoin market, despite facing intense scrutiny over its financial practices and potential abuse in illegal transactions.

Tremendous Growth and Market Domination of USDT

Since its founding, Tether has experienced exponential growth, capitalizing on the increasing demand for stablecoins, especially in regions hit by hyperinflation. USDT Tether has become an indispensable tool for individuals in the area, serving as a more reliable and accessible option for storing money. 

This surge in USDT demand has catapulted Tether beyond traditional financial institutions in terms of market capitalization and profitability, signaling a significant shift in the digital currency landscape.

Controversy and Criticism About USDT

Despite its success, Tether is not without controversy. Critics argue that the company's financial practices are not transparent, and there are concerns about its reserves. Additionally, minimal regulation of stablecoins such as USDT has raised concerns about their potential use in illegal activities. The issue has sparked skepticism and debate within the financial community, casting a shadow over Tether's achievements.

Tether (USDT) Price Today

Source: Bittime

Based on today's Bittime market, the USDT price was observed to have increased by 0.10 percent in the last 24 hours. Currently the price of USDT to IDR is IDR 15,700.

Also Read How to Buy Crypto:

The Future of Tether and the USDT Stablecoin Market

Although Tether's future faces uncertainty due to potential regulatory hurdles, the stablecoin market is generally expected to continue its upward trend. The important role that stablecoins play for individuals in countries with unstable currencies underscores the importance of this segment of the cryptocurrency industry. 

However, the continued success of companies like Tether will likely depend on their ability to navigate the regulatory landscape and overcome criticism regarding their operations and transparency.

The extraordinary rise of Tether underscores the broader trend towards digital currencies and their growing impact on the global financial system. As the stablecoin market evolves, it will be interesting to observe how traditional financial institutions adapt to these changes and whether Tether can maintain its leading position despite the challenges it faces.

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How to Buy Tether (USDT) on Bittime

You can buy and sell Tether (USDT) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Tether (USDT)  is available on Bittime with the USDT/IDR market pair . To be able to buy USDT/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn the complete guide on how to buy Tether (USDT) on Bittime . 

Monitor price chart movements of Tether (USDT) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.