USDT dominance breaks 52%, highest since May 2022

Significant outflows of BUSD has seen USDT increase market share

James Van Straten
Author
James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Make preferred on Google logo

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.
Supply dominance: (Source: Glassnode)
Supply dominance: (Source: Glassnode)
Mentioned in this article
Tether
Analyst View profile
James Van Straten
James Van Straten
Former Lead Analyst 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.

Context

Related coverage

Explore related reporting by asset, place, or topic.

AI Usage Disclosure

CryptoSlate may use AI tools to support research, editing, and production workflows. Published articles remain editorially reviewed by our team. Read our full AI usage disclaimer.

Disclaimer

Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. For more information, see our company disclaimers.

Tether USDT (24h)
$1.00 +0.01%
Market Cap $189.76B
24H Volume $74.17B