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%.
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