Tether (USDT) maintains leadership in the stablecoin market. Almost half of Bitcoin transactions are paired with USDT.
Today, the top three stablecoins by market cap are Tether (USDT) (market cap over $68 billion), Circle's USDC (market cap $33 billion), and Binance's BUSD (market cap $13 billion). Collectively, daily trading volumes for the three stablecoins average between $80 billion and $100 billion each day.
There are currently three leading trading pairs on the market - BTC/USDT, BTC/USD and BTC/BUSD. When looking at market share by volume for all pairs where Bitcoin is the base, Tether's dominance is up to 49%. The ETH-BTC pair ranks second with a total market share of 13%.
Subscribe to ForkNews on Telegram to stay up to date with news from the world cryptocurrency
You May Also Like
Over the past 2 weeks, Tether has printed another 3 billion USDT
This Saturday, another 1 billion USDT was released on the TRON blockchain. The total stablecoin supply is around 76 billion.
What's happening with Tether?
The world's largest crypto exchange Binance suspended Tether (USDT) withdrawals on Monday morning during a "period of increased activity."
