USDT cements leadership with 72% hold on stablecoin market

Quick Take

The stablecoin market is witnessing an undeniable dominance by Tether (USDT), which currently holds an impressive 72% market share, a feat not seen since early 2021. This dominance is not a resurgence but a continued demonstration of Tether’s unwavering dominance, which has historically allowed it to outperform other stablecoins in circulation.

While the influence of its closest competitor, USDC, is dwindling below 20% dominance, USDT has reached a new milestone with a circulating supply of 88.5 billion.

A closer look at this supply reveals it’s distributed across multiple blockchains, with 48 billion on Tron and 40 billion on Ethereum.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn Email James

Latest Insights

Bitcoin ETFs bring in over $6 billion in November after another $1 billion day

Data via Glassnode 21 hours ago

Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone

22 hours ago

US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders

1 day ago

Latest Alpha Market Report

Available exclusively via

Polymarket: A revolution in prediction markets

Andjela Radmilac · 6 hours ago

CryptoSlate's latest report dives deep into Polymarket's evolution, its pivotal role in high-stakes prediction events like US elections, and the implications of its controversies on its market position.