Key Takeaways
- USDT dominates Brazil’s crypto market with 90% of each day transactions.
- Tether’s USDT ranks as the highest stablecoin with a $120 billion market cap.
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Ten years of bulls and bears, Tether has grown as one of many key gamers within the crypto trade. The issuer of the world’s largest stablecoin as we speak commemorates its tenth anniversary with the discharge of ‘Stability and Freedom in Chaos,’ a documentary about USDT and its function in combating inflation.
🎬Immediately marks 10 years of USD₮ !
To rejoice, we’re launching our documentary ‘Stability and Freedom in Chaos’ quickly.
Dive into the journey of how $USDT has develop into a lifeline for hundreds of thousands, preventing inflation and fueling monetary freedom worldwide. 🌎🤝 pic.twitter.com/oviKmIgpgx— Tether (@Tether_to) October 6, 2024
The documentary’s trailer options interviews with customers from inflation-stricken international locations like Turkey, Brazil, and Argentina, the place stablecoin adoption has surged in recent times. USDT, with a market capitalization of $120 billion, is the biggest stablecoin and the third-largest crypto asset, after Bitcoin and Ethereum.
An April report from Kaiko reveals that Turkey’s inflationary pressures have been the driving drive behind the growing use of stablecoins over the previous 12 months. With over $22 billion traded on Binance in 2024, USDT-TRY was the most well-liked buying and selling pair.
In Brazil, USDT accounted for 80% of the overall crypto transaction quantity in 2023, amounting to roughly $54 billion. Brazilians use USDT in each day transactions as a consequence of its stability, Chainalysis reported.
Argentina has seen even higher demand for USDT, primarily as a consequence of ongoing foreign money devaluation and excessive inflation charges. Many Argentinians convert their salaries instantly into USDT or related stablecoins as a hedge in opposition to inflation.
Tether enters the following decade
Launched on October 6, 2014, by Brock Pierce, Reeve Collins, and Craig Sellars, Tether initially operated on the OmniLayer platform on the Bitcoin protocol. It has since expanded to a number of blockchains together with Ethereum and Tron.
Tether now enters the following decade with its core mission to proceed to empower people, communities, and nations by know-how and monetary instruments.
“Our focus has at all times been (and can at all times be) the final mile. Wealthy individuals have already tens of how to transact and retailer wealth. We construct monetary tech for the individuals left behind,” mentioned Tether CEO Paolo Ardoino.
“From monetary instruments (stablecoins) to tele-communications, from Synthetic Intelligence to unstoppable training and power, we consider within the significance of empowering individuals, communities, cities and whole international locations,” Ardoino said.
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