USDT dominance breaks 52%, highest since May 2022 Insights Stablecoins
USDT dominance breaks 52%, highest since May 2022
Significant outflows of BUSD has seen USDT increase market share
Definition
This chart shows the relative dominance of the top four stablecoins USDT 🟢, USDC 🔵, BUSD 🟡 and DAI 🟣.
The dominance of USDT for example is calculated as USDT Dominance = USDT Supply / sum(USDT, USDC, BUSD, DAI)
Quick Take
- USDT dominance breaks 52%, the highest dominance since May 2022, just before the Terra Luna collapse.
- Binance processed $1 billion in withdrawals amid regulatory scrutiny on BUSD has benefited USDT in the process.
- BUSD dominance is currently 12%, down from 17% dominance back in November 2022.
- USDC is heading towards 30% dominance.
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.
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Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.