USDT dominance exceeds 60% – fundamentals for stablecoins declining at rapid rates

USDC, DAI, and BUSD are continuing to make new lows as USDT supply continues to increase and dominance exceeds 60%.

James Van Straten
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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.
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Quick Take

  • USDT dominance exceeds 60% for the first time since June 2021.
  • The other top four stablecoins have all seen dominance decline.
  • USDT circulating supply has eclipsed $75 billion.
  • Looking from a fundamentals perspective; Active addresses, transfer counts, transfer volume are all declining at rapid rates.

Dominance

USDT: 61%

USDC: 28%

BUSD: 6%

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DAI: 4%

Stablecoin Dominance: (Source: Glassnode)
Stablecoin Dominance: (Source: Glassnode)
Active Addresses: (Source: Glassnode)
Active Addresses: (Source: Glassnode)
Transaction Count: (Source: Glassnode)
Transaction Count: (Source: Glassnode)
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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.

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Tether USDT (24h)
$1.00 0.00%
Market Cap $189.76B
24H Volume $39.6B