Insights

USDT dominance breaks 52%, highest since May 2022

exchange68September 13, 2024

0 0 1 minute read

Definition

This chart shows the relative dominance of the top four stablecoins USDT 🟢, USDC 🔵, BUSD 🟡 and DAI 🟣.

The dominance of USDT for example is calculated as USDT Dominance = USDT Supply / sum(USDT, USDC, BUSD, DAI)

Quick Take

USDT dominance breaks 52%, the highest dominance since May 2022, just before the Terra Luna collapse.
Binance processed $1 billion in withdrawals amid regulatory scrutiny on BUSD has benefited USDT in the process.
BUSD dominance is currently 12%, down from 17% dominance back in November 2022.
USDC is heading towards 30% dominance.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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