USDT dominates 46% of the stablecoin economy with a market cap of nearly $ 80 billion

Tether (USDT), the leading stablecoin, currently has around $ 78.4 billion in circulation at press time, which is 3.35% of the crypto economy of $ 2.33 trillion, and 46% of the stablecoin -Economy is valued at $ 168.4 billion.

According to the report published on the portal Tether.to from Tether Limited, manages $ 78.499 billion in assets.

Source: Coinecko

USDT has seen tremendous growth over the course of its lifespan. Market capitalization was only $ 451,600 on September 13, 2015, but has increased 17,327,227% to current levels in just over six years. The second stablecoin in terms of capitalization is USD Coin (USDC) at $ 42.4 billion, up 9.7% from the previous month. USDC accounts for 1.8% of total market cap and about 25.68% of the stablecoin economy, which is only about half the market cap of USDT.

Both USDT and USDC represent 71.82% of the total stablecoin economy and about 5.15% of the total crypto economy. Four of the top ten stablecoins in terms of market valuation saw gains from 12.9% to 42.9% last month.

The BUSD issued by Binance is up 12.9%, Terra’s UST is up 34.2%, MIM is up 30.9%, and FRAX is up 42.9%.

The total capitalization of USDT is 39% higher than that of BUSD, UST, MIM and FRAX combined. Not only is USDT the largest stablecoin issued on multiple blockchains today, it also controls most of the trading volume. The trading volume in the last 24 hours for USDT is more than double that of Bitcoin at 46.4 billion US dollars and 25.5 billion US dollars, respectively.

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