For most cryptocurrency enthusiasts, Bitcoin and Ethereum dominate the conversation. But let's not forget about stablecoins, a crucial yet often overlooked market force. In March 2022, the combined market cap of the top five stablecoins peaked at a staggering $162.8 billion, a threefold increase from the previous year. A closer look reveals intriguing fluctuations, with Tether (USDT) and TrueUSD (TUSD) seeing significant growth, while others such as BUSD and USDC dwindled... Whatโs behind these market shifts? And what does it mean for the future of stablecoins and the broader crypto landscape? Dive in to find out...
A closer look at the changes in stablecoin supply as TUSD gains on market A closer look at the changes in stablecoin supply as TUSD gains on market
Tether and TrueUSD flourished, while BUSD and USDC faced sizeable reductions this year.
2 min read
Updated: Sep. 8, 2023 at 12:05 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In this article
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
USD Coin
$1.00009
USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.
Binance USD
$1.00058
BUSD is a stablecoin issued by Paxos in partnership with Binance..
Dai
$0.99991
Dai (DAI) is a cryptocurrency token and operates on the Ethereum platform.
Tether Limited
Tether Limited is the company that introduced Tether (USDโฎ or USDT), an asset-backed cryptocurrency stablecoin, in 2014.
Circle
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
