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 ๐ข, USDC ๐ต, BUSD ๐ก and DAI ๐ฃ.
The dominance of USDT for example is calculated asย 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.
