USDT dominance exceeds 60% – fundamentals for stablecoins declining at rapid rates
USDC, DAI, and BUSD are continuing to make new lows as USDT supply continues to increase and dominance exceeds 60%.
Quick Take
- USDT dominance exceeds 60% for the first time since June 2021.
- The other top four stablecoins have all seen dominance decline.
- USDT circulating supply has eclipsed $75 billion.
- Looking from a fundamentals perspective; Active addresses, transfer counts, transfer volume are all declining at rapid rates.
Dominance
USDT: 61%
USDC: 28%
BUSD: 6%
DAI: 4%
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