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USDT dominance breaks 52%, highest since May 2022 USDT dominance breaks 52%, highest since May 2022 James Van Straten · 1 year ago
Insights Stablecoins

USDT dominance breaks 52%, highest since May 2022

Significant outflows of BUSD has seen USDT increase market share

James Van Straten / @jvs_btc / Feb. 15, 2023 at 6:14 pm UTC

Definition

This chart shows the relative dominance of the top four stablecoins USDT ๐ŸŸข, USDC ๐Ÿ”ต, BUSD ๐ŸŸก and DAI ๐ŸŸฃ.

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.
Supply dominance: (Source: Glassnode)
Supply dominance: (Source: Glassnode)
Analyst

James Van Straten

Lead Analyst at CryptoSlate

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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$0.99998 -0.06%
Vol: $50.93B MCap: $110.46B

Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.

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