USDT cements leadership with 72% hold on stablecoin market Insights Stablecoins
USDT cements leadership with 72% hold on stablecoin market
USDT breaks new grounds, marking a 72% stronghold in the stablecoin landscape.
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
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
USD Coin
$0.99996
USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.
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