USDT dominance breaks 52%, highest since May 2022
Significant outflows of BUSD has seen USDT increase market share
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)
- 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.