Tether Stablecoin Adoption Surges Amid Economic Uncertainty
Tether's USDT stablecoin is experiencing accelerated adoption as investors seek refuge from volatile macroeconomic conditions. CEO Paolo Ardoino revealed in a Bankless interview that demand for dollar-pegged cryptocurrencies typically spikes during periods of financial instability.
The stablecoin market capitalization has grown 12% year-to-date, with Tether maintaining its dominant 68% market share. Ardoino attributes this to both retail and institutional users leveraging stablecoins for cross-border transactions and as a hedge against local currency depreciation.