Tether, the dominant stablecoin in terms of market capitalization, has witnessed a 5.5% increase in its supply over the past month, resulting in a significant market valuation of $90 billion.
Tether's Market Cap has Expanded by 35,912,812% Since 2015
Since the beginning of 2023, tether (USDT) has experienced remarkable growth. Starting the year with a market value of $66.3 billion on January 1, 2023, it has surged to $90 billion in just 340 days. This expansion represents a growth of over 35%, adding $23.7 billion to USDT's market capitalization since the start of the year.
Tether's market capitalization now accounts for 5.369% of the total $1.68 trillion cryptocurrency market. Not only does tether hold the third position among over 10,000 digital currencies in terms of market valuation, but it also leads in daily trading volume, with $23 billion traded. USDT's primary trading pairs involve major fiat currencies such as the USD, EUR, TRY, MXN, and THB.
While the year-to-date data indicates a more than 35% increase in USDT's market cap, 5.5% of this growth occurred in the past month alone. According to Tether's transparency page, the Tron network accounts for $47.82 billion of the total $90 billion, while Ethereum accounts for $41.01 billion. The remaining portion is distributed across various other blockchain platforms.
Looking back to March 16, 2015, USDT's market value was a humble $251,000. Over the span of eight years, the coin's market cap has skyrocketed by an astonishing 35,912,812%. Tether's aggregate market valuation is on the verge of entering the top 100 assets in the world, including exchange-traded funds (ETFs) and companies, in terms of market capitalization. To accomplish this milestone, USDT will need a market cap surpassing $130 billion.
What are your thoughts on the stablecoin tether and its market cap reaching $90 billion? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
Is it a good retirement strategy to buy gold?
Although gold investment may not seem appealing at first glance due to the high average global gold consumption, it's worth considering.
Physical bullion bars are the most popular way to invest in gold. However, there are many other ways to invest in gold. You should research all options thoroughly before making a decision on which option you prefer.
If you don’t have the funds to invest in safe places, such as a safe deposit box or mining equipment companies, buying shares of these companies might be a better investment. If you need cash flow from an investment, purchasing gold stocks is a good choice.
You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs usually include stocks of precious metals refiners or gold miners.
How much of your portfolio should be in precious metals?
Before we can answer this question, it is important to understand what precious metals actually are. Precious metals are those elements that have an extremely high value relative to other commodities. This makes them extremely valuable for trading and investing. Gold is by far the most common precious metal traded today.
There are also many other precious metals such as platinum and silver. While gold's price fluctuates during economic turmoil, it tends to remain relatively stable. It also remains relatively unaffected by inflation and deflation.
All precious metals prices tend to rise with the overall market. However, they may not always move in synchrony with each other. When the economy is in trouble, for example, gold prices tend to rise while other precious metals fall. Investors expect lower interest rate, making bonds less appealing investments.
In contrast, when the economy is strong, the opposite effect occurs. Investors favor safe assets like Treasury Bonds, and less precious metals. Since these are scarce, they become more expensive and decrease in value.
Diversifying across precious metals is a great way to maximize your investment returns. Additionally, since the prices of precious metals tend to rise and fall together, it's best to invest in several different types of precious metals rather than just focusing on one type.
What amount should I invest in my Roth IRA?
Roth IRAs are retirement accounts that allow you to withdraw your money tax-free. You can't withdraw money from these accounts before you reach the age of 59 1/2. If you decide to withdraw some of your contributions, you will need to follow certain rules. First, you can't touch your principal (the initial amount that was deposited). You cannot withdraw more than the original amount you contributed. You must pay taxes on the difference if you want to take out more than what you initially contributed.
The second rule is that your earnings cannot be withheld without income tax. Withdrawing your earnings will result in you paying taxes. For example, let's say that you contribute $5,000 to your Roth IRA every year. Let's also say that you earn $10,000 per annum after contributing. This would mean that you would have to pay $3,500 in federal income tax. So you would only have $6,500 left. Since you're limited to taking out only what you initially contributed, that's all you could take out.
So, if you were to take out $4,000 of your earnings, you'd still owe taxes on the remaining $1,500. You would also lose half of your earnings because they are subject to another 50% tax (half off 40%). So even though your Roth IRA ended up having $7,000, you only got $4,000.
There are two types: Roth IRAs that are traditional and Roth. Traditional IRAs allow pre-tax contributions to be deducted from your taxable tax income. When you retire, you can use your traditional IRA to withdraw your contribution balance plus interest. There are no restrictions on the amount you can withdraw from a Traditional IRA.
Roth IRAs are not allowed to allow you deductions for contributions. After you have retired, the full amount of your contributions and accrued interest can be withdrawn. There is no minimum withdrawal amount, unlike traditional IRAs. It doesn't matter if you are 70 1/2 or older before you withdraw your contribution.
What is a Precious Metal IRA (IRA)?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These are “precious metals” because they are hard to find, and therefore very valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are often referred to as “bullion.” Bullion refers simply to the physical metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as some grocery stores.
A precious metal IRA allows you to invest directly in bullion, rather than buying stock shares. This allows you to receive dividends every year.
Precious metal IRAs do not require paperwork nor annual fees, unlike regular IRAs. Instead, you pay only a small percentage tax on your gains. You also have unlimited access to your funds whenever and wherever you wish.
Which precious metals are best to invest in retirement?
Silver and gold are two of the most valuable precious metals. They are both simple to purchase and sell, and they have been around for a long time. If you want to diversify your portfolio, you should consider adding them to your list.
Gold: Gold is one the oldest forms currency known to man. It is also extremely safe and stable. This makes it a good option to preserve wealth in uncertain times.
Silver: The popularity of silver has always been a concern for investors. It's a good choice for those who want to avoid volatility. Silver, unlike gold, tends not to go down but up.
Platinum: A new form of precious metal, platinum is growing in popularity. It's durable and resists corrosion, just like gold and silver. It is, however, more expensive than its competitors.
Rhodium: Rhodium can be used in catalytic convertors. It is also used to make jewelry. And, it's relatively cheap compared to other types of precious metals.
Palladium – Palladium is an alternative to platinum that's more common but less scarce. It is also cheaper. This is why it has become a favourite among investors looking for precious metals.
Is gold a good investment IRA?
Any person looking to save money is well-served by gold. You can also diversify your portfolio by investing in gold. There's more to gold that meets the eye.
It has been used throughout history as currency and it is still a very popular method of payment. It's often referred to as “the world's oldest currency.”
But unlike paper currencies, which governments create, gold is mined out of the earth. Because it is rare and difficult to make, it is extremely valuable.
The supply and demand for gold determine the price of gold. If the economy is strong, people will spend more money which means less people can mine gold. This results in gold prices rising.
The flip side is that people tend to save money when the economy slows. This leads to more gold being produced which decreases its value.
This is why investing in gold makes sense for individuals and businesses. You will benefit from economic growth if you invest in gold.
Your investments will also generate interest, which can help you increase your wealth. Plus, you won't lose money if the value of gold drops.
How can you withdraw from an IRA of Precious Metals?
First, determine if you would like to withdraw money directly from an IRA. After that, you need to decide if you want to withdraw funds from an IRA account. Next, make sure you have enough money in order for you pay any fees or penalties.
A taxable brokerage account is a better option than an IRA if you are prepared to pay a penalty for early withdrawals. If you choose this option, you'll also need to consider taxes owed on the amount withdrawn.
Next, calculate how much money your IRA will allow you to withdraw. This calculation is dependent on several factors like your age when you take the money out, how long you have had the account, and whether or not your plan to continue contributing.
Once you have an idea of the amount of your total savings you wish to convert into cash you will need to decide what type of IRA you want. Traditional IRAs allow you to withdraw funds tax-free when you turn 59 1/2 while Roth IRAs charge income taxes upfront but let you access those earnings later without paying additional taxes.
Once you have completed these calculations, you need to open your brokerage account. To encourage customers to open accounts, brokers often offer signup bonuses and promotions. However, a debit card is better than a card. This will save you unnecessary fees.
When you do finally decide to withdraw from your precious metallic IRA, you will need a safe space where you can safely store your coins. Some storage facilities will accept bullion bars, others require you to buy individual coins. Before choosing one, consider the pros and disadvantages of each.
Because you don't have to store individual coins, bullion bars take up less space than other items. But, each coin must be counted separately. However, keeping individual coins in a separate place allows you to easily track their values.
Some prefer to store their coins in a vault. Others prefer to store them in a safe deposit box. No matter what method you use, it is important to keep your bullion safe so that you can reap its benefits for many more years.
Statistics
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
External Links
investopedia.com
wsj.com
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- Want to Keep Gold in Your IRA at Home? It's not legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement accounts
bbb.org
How To
Investing in gold or stocks
This might make it seem very risky to invest gold as an investment tool. This is because most people believe that it is no longer economically profitable to invest gold. This belief arises because most people believe that the global economy is driving down gold prices. They fear that investing in gold will result in a loss of money. In reality, though, gold investment can offer significant benefits. We'll be looking at some of these benefits below.
Gold is one of the oldest forms of currency known to man. There are records of its use going back thousands of years. It was used by many people around the globe as a currency store. It's still used by countries like South Africa as a method of payment.
The first point to consider when deciding whether or not you should invest in gold is what price you want to pay per gram. You must determine how much gold bullion you can afford per gram before you consider buying it. You can always ask a local jeweler what the current market rate is if you don't have it.
It's also important to note that, although gold prices are down in recent months, the costs of producing it have risen. Although gold's price has fallen, its production costs have not.
The amount of gold that you are planning to purchase is another important consideration when deciding whether or not gold should be bought. It is sensible to avoid buying gold if you are only looking to cover the wedding rings. This is not a wise decision if you're looking to invest in long-term assets. Profitable gold can be sold at a lower price than it was when you bought it.
We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. We strongly recommend that you research all available options before making any decisions. Only after doing so can you make an informed decision.
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By: Jamie Redman
Title: Tether’s Market Cap Surges Over 35% to $90 Billion in 2023, Approaching Top 100 Global Assets
Sourced From: news.bitcoin.com/tethers-market-cap-soars-by-over-35-to-90-billion-in-2023-nearing-top-100-global-assets/
Published Date: Thu, 07 Dec 2023 17:30:36 +0000
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