Breaking the Billion Barrier: Tether Nears $100 Billion in Crypto Assets, Defying Gravity with 6,560% Growth!

Tether, a major stablecoin, is nearing a total asset value of $100 billion, currently reporting $95.2 billion in assets according to its transparency report. This growth is remarkable, with Tether's market capitalization increasing by an astonishing 6,560% since the start of 2018. Key advisor Gabor Gurbacs reaffirmed his support for Tether, having backed the project since its market cap was under $100 million in the spring of 2017. Tether's successful performance in the fourth quarter of 2023 can be attributed to high yields from US Treasury bills and strategic Bitcoin investments. The composition of Tether's reserves primarily consists of 'Cash and Cash Equivalents and Other Short-Term Deposits' at 85.7%, followed by US Treasury bills at 76.4%, overnight reverse repurchase agreements at 11%, and money market funds at 11%. Stablecoins presently constitute 7.2% of the total cryptocurrency market capitalization, a decrease from the 16-17% seen in 2022, with Tether maintaining its dominant market share of almost 70%. In contrast, some of its competitors, such as USDC, have seen a decrease in supply, while Tether's supply has grown by nearly 40% in the past year.