![Majority of stablecoins re-store peg as USDT dominance hits 58%](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/03/stables-1.jpg&w=70&h=37&q=75)
Insights Stablecoins
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)](https://cryptoslate.com/wp-content/uploads/2023/03/stables11.png)
![Stablecoin Dominance: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/03/domm.png)