Tether Surpasses Tron and DEXs with 121% Revenue Growth in 30 Days

Tether, the leading stablecoin issuer, has surpassed Tron and decentralized exchanges (DEXs) in revenue, generating an impressive $432.5 million in the past thirty days. This figure is more than double that of Circle, which earned $193.8 million during the same period. Tether's dominance is further highlighted by its $14 billion in revenue for 2024, significantly outperforming Circle's $1.4 billion. If valued by similar metrics, Tether's market capitalization could potentially place it among the world's top firms.

Tether's success is not limited to revenue generation. The stablecoin issuer has also achieved a major milestone by surpassing $1 trillion in monthly on-chain transfers for the first time. This solidifies USDT as one of the most widely used assets in the crypto industry. The rise in Bitcoin deposits by Tether, including a recent transfer of 200 BTC valued at $20.88 million to Binance, aligns with the company's strategy to leverage market trends and maintain its top position in transactions.

Beyond its financial achievements, Tether is also expanding its scope with the launch of a new blockchain project named Stable. This project, backed by Bitfinex and USDT0, is set to target businesses rather than retail users. Stable uses USDT as its gas token, which could help integrate stablecoins into business operations and drive the growth of stablecoins-supported blockchain networks. Tether's CEO, Paolo Ardoino, is involved as an advisor for the project, which is being developed by a team of blockchain engineers, financial entrepreneurs, and cryptocurrency experts.

Tether's expansion into new projects and its continued dominance in the stablecoin market highlight its strategic approach to maintaining its leadership position. The company's ability to generate high revenue and achieve significant milestones in on-chain transfers demonstrates its strength in the crypto and blockchain space. As stablecoins continue to expand their application with integration into payments by major tech companies, issuers like Tether are well-positioned to advance their scope following huge revenues and greater adoption.