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

March 23, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Fast Take

USDT dominance exceeds 60% for the primary time since June 2021.
The opposite high 4 stablecoins have all seen dominance decline.
USDT circulating provide has eclipsed $75 billion.
Trying from a fundamentals perspective; Lively addresses, switch counts, switch quantity are all declining at speedy charges.

Dominance

USDT: 61%

USDC: 28%

BUSD: 6%

DAI: 4%

Stablecoin Dominance: (Source: Glassnode)
Stablecoin Dominance: (Supply: Glassnode)
Active Addresses: (Source: Glassnode)
Lively Addresses: (Supply: Glassnode)
Transaction Count: (Source: Glassnode)
Transaction Rely: (Supply: Glassnode)

The put up USDT dominance exceeds 60% – fundamentals for stablecoins declining at speedy charges appeared first on CryptoSlate.

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Tags: decliningDominanceexceedsFundamentalsrapidRatesStablecoinsUSDT
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