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USDT dominance exceeds 60% – fundamentals for stablecoins declining at rapid rates

  • March 23, 2023
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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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%

Stablecoin Dominance: (Source: Glassnode)
Stablecoin Dominance: (Source: Glassnode)
Active Addresses: (Source: Glassnode)
Active Addresses: (Source: Glassnode)
Transaction Count: (Source: Glassnode)
Transaction Count: (Source: Glassnode)

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