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

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%