{"id":8727,"date":"2022-02-01T23:17:04","date_gmt":"2022-02-01T23:17:04","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/01\/tethers-market-share-has-been-gobbled-up-by-usdc\/"},"modified":"2022-02-01T23:17:04","modified_gmt":"2022-02-01T23:17:04","slug":"tethers-market-share-has-been-gobbled-up-by-usdc","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/01\/tethers-market-share-has-been-gobbled-up-by-usdc\/","title":{"rendered":"Tether\u2019s Market Share Has Been Gobbled Up By USDC"},"content":{"rendered":"

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The second-largest<\/a> stablecoin in the world is seemingly eroding the influence and dominance of the current leader- Tether- as it has been capitalizing rapidly. The landscape of stablecoin is pretty simply a constantly-shifting dynamic but there has been a single trend over the last year which has been quite eye-catching- the dominance of the world\u2019s largest stablecoin has been going down gradually. Its main opponent, Circle has recently touched a milestone of 50 billion USDC in its circulation, which has been reported by a tweet on Tuesday by Jeremy Allaire, the CEO, and co-founder.<\/span><\/p>\n

Tether\u2019s Dominance Could Be coming to an end<\/b>\u00a0<\/span><\/span><\/h2>\n

Allaire went on to mention that although Circle has been putting in a massive number, the massive growth and the ecosystem that surrounds it tell a completely different and varied story. He further added that the USDC has been seeing a growth of 10,000% over the last two years, which has been more than what Tether has been able to manage in the same period of time.\u00a0<\/span><\/p>\n

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The total supply of stablecoin currently stands at around $177 billion, which equates to around 9.7% of the entire crypto market capitalization. Tether itself commands around 45% of that impressive total, while Circle has slowly been taking with itself a much bigger 29% share as the gap between them keeps on closing. For reference, the last time the world\u2019s largest stablecoin had a dominance of 74%, Circle had around 16% of the same pie.\u00a0<\/span><\/p>\n

The market stabilization of the Circle<\/a> stablecoin went on to expand by around 987% in 2021 according to CoinGecko. At the same time, the supply of Tether held less than a third of the same growth at just 275% in the same period.<\/span><\/p>\n<\/div>\n