Tether (USDT) Continues to Dominate the Stablecoin Market, Reporting $13 Billion in Yearly Profits for 2024

Tether's latest attestation highlights its continued dominance in the stablecoin market, with $13 billion in yearly profits and $45 billion in total issuance for 2024

Stablecoin issuer Tether has seen one of its strongest years to date, with $13 billion in yearly profits and $45 billion in total issuance for 2024.

The company’s Q4 2024 attestation also confirms a record $113 billion in US Treasury holdings as of December 31.

This positions Tether as the most capitalized and widely used stablecoin issuer in the crypto market.

The company’s reserves for issued tokens reached $143 billion, with a $7 billion surplus, showcasing its strong financial position.

With a market cap of $136 billion, as highlighted in Tether’s report, the stablecoin issuer significantly outpaces its closest competitor, Circle’s USDC, which holds a $53 billion market cap — roughly one-third of Tether’s size.

However, at press time, CoinGecko data shows Tether’s market cap has risen to $140 billion, indicating that in January alone, the company has issued an additional $4 billion in USD₮.

This rapid growth underscores the increasing demand for stablecoins and the strong market appetite for USD₮ as crypto adoption continues to expand.

As stablecoins continue to gain steam, the sector’s total market capitalization is quickly approaching the $200 billion mark.

According to a recent report by digital asset manager Bitwise, this growth is poised to accelerate in 2025, with projections that the stablecoin market could reach $400 billion next year.

In Q4 alone, Tether issued $23 billion in new USD₮ tokens, pushing its total issuance for the year to $45 billion.