USDT has restored capitalization to a maximum

According to information from RBC, the stablecoin Tether (USDT) has restored its capitalization to the maximum values reached at the beginning of last year, amounting to $83.2 billion.

USDT is a token pegged to the US dollar and lost about $18 billion in market value last year. The capitalization of this asset began to decline after the collapse of the algorithmic competitor TerraUSD (UST) in May. The lowest value was reached after the bankruptcy of the FTX exchange in November, and amounted to $65 billion. However, Tether recovered in almost six months.

Paolo Ardoino, CTO of Tether, expressed his joy that USDT has reached an all-time high of over $83.2 billion. He emphasized that Tether aims to develop a strong, resilient and powerful financial, communications and energy ecosystem using cutting-edge technologies.

The recovery of USDT capitalization testifies to the leading role of this token in the cryptocurrency market in conducting transactions and storing funds. Tether's share of the stablecoin market last February exceeded 51% for the first time since the beginning of last year. According to CoinGecko, as of June 1, this share is already 66%.