The market capitalization of USDT (Tether) has reached a new all-time high, as reported by IntoTheBlock data.

According to CoinGecko, at the start of the month, the market capitalization of USDT (the largest stablecoin) exceeded $84 billion. IntoTheBlock, a crypto analysis firm, reported that USDT reached an all-time high of $83.76 billion, but other data aggregators indicated that it had actually surpassed this level earlier in the month.

Lately, stablecoins, including USDT, have been performing remarkably well. USDT remains the dominant player in the stablecoin market, and the combined market capitalization of the six largest stablecoins rose sharply last month to nearly $125 billion.