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Majority of stablecoins re-store peg as USDT dominance hits 58% Majority of stablecoins re-store peg as USDT dominance hits 58%

Majority of stablecoins re-store peg as USDT dominance hits 58%

Stablecoins on the majority return back to the $1 peg, while USDT continues to increase stablecoin dominance at 58%.

Quick Take

  • Over the past few days, stablecoins lost the peg to $1; the main headline was USDC.
  • USDT was trading at a premium all other stablecoins were trading at a discount to the $1 peg.
  • USDT has now returned back to the $1 peg.
  • USDC, BUSD, and GUSD are now roughly back at $1.
  • While DAI is slightly under $1.
  • USDT dominance increases to 58%, a high that was last seen back in mid 2021.
Stablecoin Price: (Source: Glassnode)
Stablecoin Price: (Source: Glassnode)
Stablecoin Dominance: (Source: Glassnode)
Stablecoin Dominance: (Source: Glassnode)