According to the Token Terminal platform, Tether (USDT) has grown its market share by more than 20% over the past two years. The asset now controls 75% of the entire stablecoin market.

Over the past 2 years, Tether has increased its market share from 55% to 75%. The supply of USDT is 118 billion. Tether's market share has exceeded 75%, Token Terminal analysts wrote.
The first quarter of 2024 was a record for Tether, the issuer of the world's largest stablecoin. The company received more than $4.5 billion in profit. Over the past 30 days, Tether earned about $400 million.

Interestingly, Tether received most of its profit (around $3.52 billion) for the first quarter of 2024 from revenues from bitcoins and gold held on the company's balance sheet. And only about $1 billion was received by the issuer of the USDT stablecoin from operating expenses.

In mid-August 2024, the USDT balance on cryptocurrency exchanges reached a record high of 20.33 billion.

Tether's management plans to double its headcount to focus more on compliance across multiple jurisdictions.