On May 12, Tether's USDT reached a market capitalization of $150 billion for the first time, according to CoinMarketCap.
Over the past year, USDT's circulating supply has grown by more than 36%, and growth accelerated markedly in November following the election of President Donald Trump.
Tether currently accounts for 61% of the global stablecoin market, according to CoinMarketCap, followed by Circle's USDC with nearly 25%.
As the largest stablecoin, Tether is often considered an indicator of cryptocurrency demand, due to its crucial role in providing liquidity and facilitating cryptocurrency trading.
Although Tether has a significant global presence, its use is limited in the United States, which now leads in pro-cryptocurrency legislation.