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USDT dominance breaks 52%, highest since May 2022

GameFi
By Press
0

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)

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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.
Supply dominance: (Source: Glassnode)
Supply dominance: (Source: Glassnode)

The post USDT dominance breaks 52%, highest since May 2022 appeared first on CryptoSlate.

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