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Crypto treasury firms are experiencing a significant rise in cumulative market caps, reaching $160 billion as investors seek more equity exposure. These firms provide large token holders with sophisticated exit strategies, enabling them to bypass traditional liquidity constraints and to convert holdings into equity shares for better market positioning. The trend reflects a growing integration of traditional finance with the crypto market.
Tether's USDT has reached a record market cap of over $160 billion, marking significant growth due to its utility in emerging markets and strong profits from U.S. Treasury holdings. CEO Paolo Ardoino highlighted this milestone as a testament to USDT's role as a digital dollar for millions worldwide. Tether's dominance continues, holding a substantial market share in the stablecoin sector.
Coinbase's stock reached a closing price of $394.01 per share, resulting in a market capitalization exceeding $100 billion for the first time. This milestone comes on the heels of Bitcoin hitting new all-time highs and a significant surge in Coinbase shares over the past month.