USDT’s Market Share Exceeds 75%
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In just two years, Tether’s US dollar-based stablecoin USDT has become the dominant player in the market, now accounting for two-thirds of all stablecoins being used. Its market share has increased by over 20% in the last two years alone.
According to data from Token Terminal, an onchain data platform, Tether also holds a majority of the stablecoin market at over 75%.
This growth can be attributed to the increasing demand for stablecoins as an on-ramp to the cryptocurrency world.
Tether’s success is evident from its revenue of approximately $400 million in the 30 days leading up to Sept. 16, as reported by Token Terminal.
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