Tether's Market Cap Growth in 2023
Tether, the leading stablecoin by market capitalization, has experienced significant growth in 2023. Starting the year with a market value of $66.3 billion on January 1, it has surged to $90 billion in just 340 days. This represents an impressive 35% increase in market capitalization, adding $23.7 billion to Tether's value since the beginning of the year.
Tether's Position in the Crypto Economy
Tether's market capitalization now accounts for 5.369% of the total $1.68 trillion crypto economy. 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. Tether's primary trading pairs involve major fiat currencies such as USD, EUR, TRY, MXN, and THB.
Recent Growth and Transparency
While year-to-date data indicates a more than 35% rise in Tether's market cap, 5.5% of this growth occurred in the last month alone. According to Tether's transparency page, the Tron network accounts for $47.82 billion of the total market capitalization, while Ethereum accounts for $41.01 billion. The remaining value is distributed across various other blockchain platforms.
Tether's Impressive Market Cap Journey
Looking back to March 16, 2015, Tether's market value was a modest $251,000. Over the span of eight years, the coin's market cap has skyrocketed by a massive 35,912,812%. Tether's aggregate market valuation is on the verge of entering the world's top 100 assets, including exchange-traded funds (ETFs) and companies, in terms of market capitalization. To accomplish this, Tether will need a market cap exceeding $130 billion.
What are your thoughts on Tether's market cap reaching $90 billion? Share your opinions in the comments section below.
Frequently Asked Questions
What is the cost of gold IRA fees
A monthly fee of $6 for an Individual Retirement Account is charged. This includes the account maintenance fees and any investment costs associated with your chosen investments.
You may have to pay additional fees if you want to diversify your portfolio. These fees will vary depending upon the type of IRA chosen. Some companies offer free checking accounts, but charge monthly fees to open IRA accounts.
Most providers also charge annual management costs. These fees are usually between 0% and 1%. The average rate for a year is.25%. These rates can be waived if the broker is TD Ameritrade.
What proportion of your portfolio should you have in precious metals
To answer this question we need to first define precious metals. Precious metals are those elements that have an extremely high value relative to other commodities. This makes them very valuable in terms of trading and investment. Gold is by far the most common precious metal traded today.
There are also many other precious metals such as platinum and silver. The price for gold is subject to fluctuations, but stays relatively stable in times of economic turmoil. It also remains relatively unaffected by inflation and deflation.
In general, prices for precious metals tend increase with the overall marketplace. They do not always move in the same direction. If the economy is struggling, the gold price tends to rise, while the prices for other precious metals tends to fall. This is because investors expect lower rates of interest, which makes bonds less attractive investments.
Contrary to this, when the economy performs well, the opposite happens. Investors choose safe assets such Treasury Bonds over precious metals. They are more rare, so they become more expensive and less valuable.
To maximize your profits when investing in precious metals, diversify across different precious metals. It is also a good idea to diversify your investments in precious metals, as prices tend to fluctuate.
Who is the owner of the gold in a gold IRA
An individual who has gold is considered to be a “form of money” by the IRS and subject to taxation.
You must have at least $10,000 in gold and keep it for at most five years to qualify for this tax-free status.
Owning gold can also help protect against inflation and price volatility, but it doesn't make sense to hold gold if you're not going to use it.
You will need to declare the value of gold if you intend on selling it one day. This could impact how capital gains taxes you owe for cash investments.
You should consult a financial planner or accountant to see what options are available to you.
Is buying gold a good way to save money for retirement?
Although gold investment may not seem appealing at first glance due to the high average global gold consumption, it's worth considering.
Physical bullion is the most popular method of investing in gold. But there are many other options for investing in gold. The best thing to do is research all options thoroughly and then make an informed decision based on what you want from your investments.
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 are looking for cash flow from your investment, buying gold stocks will work well.
You also can put your money into exchange-traded funds (ETFs), which essentially give you exposure to the price of gold by holding gold-related securities instead of actual gold. These ETFs can include stocks of precious metals refiners and gold miners.
What Should Your IRA Include in Precious Metals?
It is important to remember that precious metals can be a good investment for anyone. You don't have to be rich to invest in them. You can actually make money without spending a lot on gold or silver investments.
You may consider buying physical coins such as bullion bars or rounds. Stocks in companies that produce precious materials could be purchased. Or, you might want to take advantage of an IRA rollover program offered by your retirement plan provider.
No matter what your preference, precious metals will still be of benefit to you. They offer the potential for long-term, sustainable growth even though they aren’t stocks.
They also tend to appreciate over time, unlike traditional investments. You'll probably make more money if your investment is sold down the line than traditional investments.
Can I buy or sell gold from my self-directed IRA
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. If you already have a retirement account, funds can be transferred to it.
Individuals can contribute as much as $5,500 per year ($6,500 if married filing jointly) to a traditional IRA. Individuals can contribute as much as $1,000 per year ($2,000 if married filing jointly) to a Roth IRA.
You might want to purchase physical bullion, rather than futures contracts if you are going to invest in gold. Futures contracts are financial instruments that are based on gold's price. They allow you to speculate on future prices without owning the metal itself. But, physical bullion is real bars of gold or silver that you can hold in one's hand.
Can I have a gold ETF in a Roth IRA
This option may not be available in a 401(k), but you should look into other options such as an Individual Retirement account (IRA).
Traditional IRAs allow contributions from both the employer and employee. Another option is to invest in publicly traded corporations with an Employee Stockownership Plan (ESOP).
An ESOP can provide tax advantages, as employees are allowed to share in company stock and the profits generated by the business. The tax rate on money that is invested in an ESOP is lower than if it was held in the employees' hands.
A Individual Retirement Annuity (IRA), is also available. With an IRA, you make regular payments to yourself throughout your lifetime and receive income during retirement. Contributions to IRAs can be made without tax.
Statistics
- 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)
- 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)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- 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)
External Links
irs.gov
wsj.com
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- You want to keep gold in your IRA at home? It's not legal – WSJ
investopedia.com
- Do You Need a Gold IRA to Get Retirement?
- What are the Options? Types, Spreads, Example and Risk Metrics
cftc.gov
How To
Investing with gold or stocks
Investing in gold as an investment vehicle might seem like a very risky proposition these days. This is because many people believe gold is no longer financially profitable. This belief comes from the fact most people see gold prices falling due to the global economy. They believe they would lose their money if they invested gold. In reality, however there are still many significant benefits to gold investing. We'll be looking at some of these benefits below.
The oldest form of currency known to mankind is gold. There are thousands of records that show gold was used over the years. It has been used as a store for value by people all over the globe. As a means of payment, South Africa and many other countries still rely on it.
The first point to consider when deciding whether or not you should invest in gold is what price you want to pay per gram. It is important to determine the price per gram you are willing and able to pay for gold bullion. You could contact a local jeweler to find out what their current market rate is.
It's also important to note that, although gold prices are down in recent months, the costs of producing it have risen. So, although gold prices have declined in recent years, the cost of producing it has not changed.
The amount of gold that you are planning to purchase is another important consideration when deciding whether or not gold should be bought. For example, if you only intend to purchase enough to cover your wedding rings, it probably makes sense to hold off on buying any gold. 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 our article has given you a better understanding of gold as an investment tool. We strongly recommend that you research all available options before making any decisions. Only after you have done this can you make an informed choice.
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By: Jamie Redman
Title: Tether's Market Cap Soars by Over 35% to $90 Billion in 2023, Nearing 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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