Tether capitalization rose to a one-year high

The market capitalization of the largest stabelcoin Tether (USDT) reached $83.027 billion on May 24.
The last time the supply of this digital currency exceeded $83 billion was in early May 2022. At its peak it was $83.23 billion, but already in July the capitalization of USDT collapsed to $65.96 billion.
Its supply growth has resumed since January 2023. According to Kaiko, traders are switching to Tether amid the crisis affecting other staplecoins – Binance USD (BUSD) and USD Coin (USDC).

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