Tether has continued to dominate the table of most traded cryptocurrencies in the market, and at the time of writing it was having an intraday trading volume of $133.32 billion. With the tag of most traded it has also become most used for savings and salary payments on Brighty, a European crypto banking platform.
According to a new report by Brighty, titled “Crypto Earners’ Money Habits” USDT is one of the most used crypto on the platform for salary and saving accounting; around 85 percent of total deposits took place on Brighty in the just-passed year.
The report further quotes that Tether became the second most opted for saving purposes after the Euro, with a share of 33 percent. It is worth noting that the B2C deposit in 2024 is dominated by USDT followed by Euro, USDC, Bitcoin, and Ethereum among others.
Despite USDT’s growing adoption and usage it has been facing regulatory challenges, because of its controversial supply and auditing process. According to CoinMarketCap, the maximum supply of Tether is unlimited, and till writing 138.54 billion USDT and its fully diluted value is $141.35 billion.
USDT is one of the most popular stablecoins present in the market, and as per data, it has acquired an all-time high of $1.22 on February 25, 2015.
Basically, stablecoins are the kind of cryptocurrencies that are designed in such a way that they are pegged with the value of some actual commodity or currency, in a ratio of 1:1. Yet there are several other stablecoins that aren’t pegged with any currency but are algorithm based.
