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Zenger
Zenger
Murtuza Merchant

Tether Takes Lead In Stablecoin Market As Competitors Struggle

Tether Justin Tallis United States Bitcoin USDC Ethereum Circle Zenger News
An illustration picture taken in London on May 8, 2022, shows gold plated souvenir cryptocurrency Tether (USDT), Bitcoin and Etherium coins arranged beside a screen displaying a trading chart. - Tether (USDT) is an Ethereum token known as a stablecoin that is pegged to the value of the US dollar, and is currently the largest stablecoin with a market value of USD 83 billion dollars. PHOTO BY JUSTIN TALLIS/GETTY IMAGES  

The stablecoin market has seen a drastic shift in market share year-to-date, with Tether (CRYPTO: USDT) taking the lion’s share of the pie.

USDT’s market share has increased by over 25% to $83.7 billion in the past year, while USD Coin (CRYPTO: USDC)’s market share has decreased by over 40% to $25.82 billion, according to data from DefiLlama.

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