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Tether’s USDT Stablecoin Market Share Rises to Highest Level in 15 Months

The dominance of Tether’s USDT is rising among stablecoins amid an on-going shake-up of the $136 billion stablecoin market.

USDT’s market share among stablecoins surpassed 54% on Monday, data from Coingecko shows. This is the largest market share Tether’s stablecoin has reached since late November 2021, after the crypto bull market reached its apex.

USDT’s market capitalization has grown some $5.3 billion this year so far to $71.6 billion, with $3 billion of the gains after mid-February. Circle’s rival stablecoin, USD Coin (USDC), has also gained $3 billion since the Paxos announcement; however, its $44 billion market cap is still lower than at the start of 2023.

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