- November 24, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
No Comments
Quick Take
The stablecoin market is witnessing an undeniable dominance by Tether (USDT), which currently holds an impressive 72% market share, a feat not seen since early 2021. This dominance is not a resurgence but a continued demonstration of Tether’s unwavering dominance, which has historically allowed it to outperform other stablecoins in circulation.
While the influence of its closest competitor, USDC, is dwindling below 20% dominance, USDT has reached a new milestone with a circulating supply of 88.5 billion.
A closer look at this supply reveals it’s distributed across multiple blockchains, with 48 billion on Tron and 40 billion on Ethereum.
The post USDT cements leadership with 72% hold on stablecoin market appeared first on CryptoSlate.