According to BlockBeats, data from blockchain analytics platform Token Terminal reveals that Tether’s stablecoin USDT has not only seen continuous growth but has also solidified its dominance in the stablecoin market. Currently, USDT accounts for nearly 75% of the total stablecoin market capitalization, a significant increase from 55% two years ago.
Over the past two years, the supply of USDT has nearly doubled, rising from approximately $65 billion to $118.6 billion. This substantial growth underscores USDT’s increasing influence and adoption within the cryptocurrency ecosystem. The data highlights the expanding role of stablecoins in providing liquidity and stability in the volatile crypto market.