The USDT of Tether (USDT) exceeded a market capitalization of $ 150 billion for the first time on May 12, marking a new stage in the middle of the growing adoption of the stables.
The circulating offer of the USDT has increased by more than 36% in the past year, growth accelerating in November after the election of US President Donald Trump.
At its current supply, Tether represents 61% of the world market for Stablescoin, according to CoinmarketCap data. It is followed by the USDC of Circle (USDC), which represents almost 25% of the Stablescoin market.
As the largest stablecoin in the world, Tether is widely considered as a barometer of cryptocurrency demand, given its central role in the supply of liquidity and the financing of cryptographic trading.
Tether is part of a broader trend towards digital fiduciary currencies, with recent data from Dune and Artemis showing that the number of active stablecoin portfolios has increased by more than 50% over the past year, from 19.6 million to 30 million.
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Tether restarts the restart
Despite its great presence worldwide, the use of Tether is limited to the United States, a country now at the forefront of Pro-Crypto legislation.
In this context, Tether plans to enter the United States with a new stablecoin supported in dollars later this year.
“A domestic stable would be different from the Stablecoin international,” said Tether CEO Paolo Ardoino
According to a CNBC report, Tether increases lobbying efforts in Washington while American legislators are considering several bills linked to stables, including the stable law, presented by the president of the French Hall Chamber of Financial Services Committee and the President of the Bryan Steil digital asset subcommittee.
However, the stable act has aroused criticism. As Cointelegraph reported, the former president of the Commodity Futures Trading Commission Timothy Mass argument that the bill would not do much to brake the attachment.
Speaking during a hearing of February 11 on the subcommittee of the room on digital assets, financial technology and artificial intelligence, Massad said that the proposal posed “too many risks of low state standards” and suffers from an “inadequate examination process”, noting the absence of “in progress federal supervision of state issuers”.
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