The battle between the top two stablecoins continues to see new feuds over land on a monthly basis, each taking turns to strategize their winning plays. So here’s the latest fact check on the current state of this ever-lasting competition. Placing my bets on… The total market capitalization of stablecoins stood at about $153.8 billion, […]
The battle between the top two stablecoins continues to see new feuds over land on a monthly basis, each taking turns to strategize their winning plays.Placing my bets on…
The total market capitalization of stablecoins stood at about $153.8 billion, with a trading volume of $56 billion in the past 24 hours. Mainly the top two stablecoins, Tether’s USDT and Circle’s USDC made headlines. However, the leading stablecoin hasConsider this for instance. Tether [USDT] had a market share of 47.5% at the beginning of 2022, while Circle’s USDC had 25.8%.
But Tether’s popularity has decreased since. Thus, reducing its market share to less than 40%. On the other hand, Circle’s stablecoin has continued to narrate impressive stories since the beginning of this year. But it looks like the tables have turned. At press time, the market value of USDT stood at 67.5 billion, accounting for 43.9%; the 24-hour trading volume was 45.4 billion, accounting for 81%. And, it maintained the $1 peg despite hiccups.In fact, in the past 30 days, the market value of USDT has increased by 2.6%, while the market value of USDC has decreased by 2%.Santiment data. The ratio went from 19.7% on 9 May to 42% as of 14 August.
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