Tether (USDT), the leading stablecoin, has expanded its supply by 34.27% over the past year, reaching a market cap of $123.17 billion. It outperforms its competitors, with the closest stablecoin, USD Coin (USDC), only seeing a 50.57% increase in the same period. USDT is widely used in daily trading volume and holds a dominant position in trading pairs with various cryptocurrencies. Its market cap is significantly larger than that of USDC and other competitors, indicating a strong market presence. However, emerging yield-bearing stablecoins like Ethena's USDE and Sky's USDS are aiming to differentiate themselves by offering incentives and promoting decentralization. Despite these efforts, USDT's position remains unchallenged for now.



Other News from Today