Tether Dominates Stablecoin Market, Surging 20% in Two Years

After seeing tremendous uptake over the previous two years, Tether’s stablecoin currently holds two-thirds of the market, priced in US dollars.

Over the last 30 days, the largest stablecoin issuer in the world brought in over $400 million in revenue.

According to Token Terminal, Tether USDT’s USDT$1.00 market share increased by more than 20% over the previous two years, taking over 75% of the stablecoin market.

In a September 16 X post, the onchain data platform stated:

“Tether has grown its market share from 55% to 75% over the past 2 years. Tether’s USDT supply is $118 billion. Tether’s market share is 75%.”

Steepcoins are the primary entry point from the fiat to the cryptocurrency world. Growing market capitalizations for stablecoins indicate that more and more investors are trying to purchase cryptocurrencies.

In the last 30 days, Stablecoin Tether has made $400 million in income.

According to Token Terminal, Tether, the company that created the biggest stablecoin in the world, made over $400 million in income in the 30 days that ended on September 16.

The stablecoin issuer saw a record-breaking first quarter, with Tether earning over $4.5 billion in profit in the first quarter of 2024. This revenue growth follows.

The company’s profits from Bitcoin and gold accounted for $3.52 billion, or most of the profit; operating expenses accounted for just $1 billion.

Days after Tether named PayPal’s former head of regulatory relations, Jesse Spiro, as its new head of government affairs on September 13, the stable coin issuer has experienced substantial growth.

On exchanges, Tether USDT reaches a record $20.3 billion.

On August 13, Tether’s USDT balance on cryptocurrency exchanges reached a record high of $20.339 billion, indicating that investors are preparing to use these stable coins to purchase cryptocurrency assets.

Tether’s exchange balance has historically increased in both bull and bear markets.

The increase in USDT reserves during bear markets frequently indicates that traders switch from risky cryptocurrencies to stablecoins to protect themselves from market volatility. On the other hand, the accumulation of USDT in bull markets can mean that traders are hoarding stablecoins to use for cryptocurrency purchases at a later date when values decline.

Over the last two years, there has been a notable increase in the size of the largest stablecoin issuer globally. By mid-2025, Tether hopes to have doubled its employment to 200 workers, emphasizing growing its compliance team.