USDT — leader among stablecoins with record capitalization

Thanks to its large market capitalization and high liquidity, the USDT exchange rate remains the most stable compared to the prices of other major stablecoins, which periodically lose their peg to the US dollar.

Tether's volatility in april

Tether (USDT) holds the record among cryptocurrencies for daily trading volume, with a figure of $88.5 billion as of June 2025. For comparison, the daily trading volume of the most capitalized digital asset, Bitcoin (BTC), is only $59.5 billion.

Despite its high liquidity, the USDT stablecoin's exchange rate remains subject to fluctuations. In early April, the USDT exchange rate fell below $1, reaching $0.99. This occurred after the crash of the stock and cryptocurrency markets on April 9, amid statements by Donald Trump about new US import tariffs on several countries.

However, by mid-April, the USDT exchange rate against the dollar returned to $1 as the US president, fearing a recession and financial crisis on international markets, postponed the decision on trade tariffs for 90 days — until July.

By the end of April, the price of the Tether stablecoin had risen above $1 amid the overall growth of the cryptocurrency market. As a result, Bitcoin and altcoins also resumed their growth and began to increase in price rapidly. For this reason, the USDT-to-BTC exchange rate began to decline. The situation indicates that, amid the weakening of the US dollar, investors increased their purchases of USDT to facilitate the transfer of their assets into Bitcoin and other major cryptocurrencies.

The growing demand for USDT among investors is also reflected in the increasing market capitalization of the stablecoin: in April, this indicator rose by 3% — from $143.9 billion to $148.4 billion.

How things stand with USDT: current exchange rate

Throughout May, the market capitalization of the USDT stablecoin demonstrated positive dynamics. However, until mid-May, the USDT exchange rate remained above $1. However, as Bitcoin approached its new all-time high (ATH) at the end of May, the USDT exchange rate against BTC and the US dollar began to decline, reverting to $1.

Nevertheless, since the beginning of the year, the USDT exchange rate against the US dollar has remained stable, fluctuating by no more than 0.2%, indicating the high stability of the asset. Tether has maintained its peg to the US dollar for two years, demonstrating reliability and high liquidity against the backdrop of high trading volumes, which periodically exceed $100 billion per day.

As of June, the Tether stablecoin reached a record capitalization of $155.2 billion. Since the beginning of April, this figure has increased by almost 8%, and since the start of the year, by more than 13%. According to monitoring service CoinMarketCap, Tether accounts for more than 60% of the market capitalization of the entire stablecoin segment, which amounts to $254.3 billion.

In essence, USDT is not only the largest stablecoin by market capitalization but also the most widely used digital asset in the cryptocurrency sector.

According to analysts, USDT accounts for about 80% of all payments in stablecoins. Experts note that the stablecoin segment grows by 100% every six months.

According to expert data, the number of stablecoin users has grown by 215% in just two years — from $2 billion to more than $6.3 billion.

The USDT exchange rate can be tracked online using popular monitoring services such as:

• CoinMarketCap,
• CoinGecko,
• TradingView.