The supply of the stablecoin from Tether is growing steadily – USDT capitalization has updated another high.

Tether’s market capitalization has grown by about 30% over the past year to $83.8 billion at the time of writing, according to data from analytics platform Glassnode. USDT’s dominance in the stablecoin market has skyrocketed to 68.87%.

The company’s earnings also increased significantly. According to the results of the first quarter of 2023, Tether’s net profit amounted to $1.50 billion: some market participants believe that these funds will be used to buy bitcoin.