With this in mind, stablecoins are considered to be a relative haven of stability in the otherwise volatile and unpredictable crypto market. TangentAt the time of writing, tether had the highest daily trading volume of any cryptocurrency by a large margin. Over the past 24 hours, more than $29 billion of tether had been traded (bought or sold). This makes tether the third most valuable cryptocurrency by market cap. Overall, tether makes up around 5% of the total cryptocurrency ecosystem, worth approximately $1.76 trillion.

Source: Forbes January 16, 2024 10:35 UTC