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Stablecoin Leader Tether Approaches 100 Billion in Circulation
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Tether, the issuer of the popular USDT stablecoin, has strengthened its dominance in the stablecoin market by approaching 100 billion tokens in circulation.
The company’s market share expanded significantly in 2023, growing from 50% at the beginning of the year to over 70% as of the end of 2023, according to data from CryptoRank.io.
The 100 billion token milestone further cements Tether’s position as the leader in the stablecoin sector.
USDT Dominance Surpasses 70%
Over the past year, #Tether regurally issued $USDT, resulting in supply growth by nearly $29 billion (+44%). Amid the problems of $USDC and $BUSD, it's dominance surged from 48.1% to 70.9%.
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